USD/ZAR Bullish Structure Holds, Waiting for PullbackUSD/ZAR is currently trading at 18.80, having recently rejected the key resistance level near 19.00, which has acted as a historical ceiling multiple times. Despite the rejection, the pair maintains a clear bullish structure and continues to trade above the Ichimoku cloud (Span A at 18.86 and Span B
About U.S. Dollar / South African Rand
The U.S. Dollar vs. the South African Rand. The Rand was and became legal tender in the late 50’s to early 60’s for South Africa, Swaziland, Lesotho and Namibia after moving away from the Pound. After the apartheid era sanctions the Rand experienced a great deal of volatility and depreciation.
USDZAR-BUY strategy 6 horuly chart GANN The pair has been undergoing some downward pressures, but my overall indicators seems still showing upside potential. I would be careful below 18.7500 though, as this may fill the gap 18.6000 and low again.
Strategy is for now BUY @ 18.8250 - 18.8650 and take profit near 19.0450. I am not committe
Bullish bounce?USD/ZAR is falling towards the pivot and could bounce to the 1st resistance.
Pivot: 18.42633
1st Support: 18.12402
1st Resistance: 18.77859
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USDZAR-NEUTRAL SELL strategy 6 hourly Regression channelThe pair has drifted lower as expected, but the volatility is low, hence we should not expect a very strong continuation of the move lower. Further, GOLD is overbought, and the pair could spike back easily when this correction commences.
Strategy SELL @ 18.7750-18.8150 and take profit near 18.5575
USDZAR-SELL strategy 12-hourly The pair does show longer-term the possibility of moving towards 17.75 based on the s/h/s pattern we have. The key is the neckline, and as long we remain above this level, we still can have another go higher before lower again.
Strategy SELL between 18.8200 - 19.0000 and take profit near 17.9350 f
USDZAR-BUY strategy 6 hourly chart Regression channelThe pair is in an complex frame, whereby part is move lower longer term, but shorter time frame it is buoyant in character. We should see higher levels near 19.4500 again I feel.
Strategy BUY @ 18.9575 - 19.0200 range and take profit near resistance 19.3300.
USDZAR-BUY strategy 3 hourly chart - regression channelI am not super convinced, and same as yesterday, am not committed to a trade in the pair at this moment in time. However, the pair looks a bit better BUY now, and I feel there is some potential for recovery from the current levels. Overall still pressure judging 12 hourly chart.
Strategy BUY @ 18.8
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Frequently Asked Questions
The value of the USDZAR pair is quoted as 1 USD per x ZAR. For example, if the pair is trading at 1.50, it means it takes 1.5 ZAR to buy 1 USD.
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