Possible 5-wave impulse on USD ZARA failed break below 19.10 will be an indication of a 5-wave impulse to 19.60.
Critical support level remains on 18.97
USDZAR trade ideas
Re-test of rates above 19.00The rand has been able to weather the storms of the broad-based stronger dollar thanks to the spike in precious metal prices however the rand did stumble at the back end of last week following the higher-than-expected US CPI print. The critical rates to watch on the USDZAR pair is the 61.8% Fibo rate of 18.97 and the 200-day MA rate of 18.75. I expect the 200-day MA to hold its ground given the renewed geopolitical uncertainties which will see the pair re-test the 18.97 resistance rate. A break above 18.97 will see the rand fold further towards 19.15.
USDZAR-SELL strategy 4-hourly chartThe pair has made a wonderful climb and the daily chart suggestion worked out well as we reached that objective. Now the 4-hourly chart is starting to feel heavy on upside.
The stochastic is negative last few sessions already.
Strategy SELL @ 19.0200-19.0750 and place SL above 19.1550 for now. Profit order @ 18.8350.
USDZAR PLAYEDOUT NICEThis week on USDZAR bulls were having 100% chance of applying enough momentum for then to dominate the trend, since the sentiment have confirmed, we now gonna close buy orders.
USDZAR BULLS ARE TRYING BUY ALL MEANS :This week on USDZAR bulls are having 70% chance of applying enough momentum for then to dominate the trend, since the sentiment have confirmed, we now gonna open pending buy stop orders on the c-re-rentry level as displayed on the chart.
longDolla looks like it is gaining strengh this week . based on technical analysis my price action shows a 90%rule that the USDZAR should reach before falling but let's patiently wait for it
USDZAR-SELL strategy 4-hourly chartThe pair has spiked a bit on the back of weakening GOLD price, which is heavily overbought for some time.
Stochastic is slightly negative, and on the high side, but did does not suggest we cannot see it return higher. I rather focus on the pattern, and as depicted, likely a "false bull flag" pattern is the case.
Strategy SELL @ 18.8700-18.9300 range and place SL above 19.0350. Profit order @ 18.6150 for now.
USDZAR-SELL strategy 4-hourly chartThe pair is under pressure and likely we may see a test of 18.5150.
Strategy SELL @ 18.7450 - 18.7750 and place SL above 18.8575 and profit order @ 18.5650.
USDZAR-BUY strategy Daily chartThe pair is under pressure due to higher GOLD prices, and its logically then to expect lower levels. The 4-hourly chart is showing possibility to see 18.5600 test.
Stochastic is positive DAILY chart and GOLD will correct, therefore seeing an opportunity for more fun on the upside later on.
Strategy BUY @ 18.6150 - 18.6300 and place SL below 18.5150. Profit order @ 18.9650.
USDZAR-SELL strategy 4-hourly chartThe pair did not move lower as yet, and my BUY suggestion never reached. Of course, GOLD is weakening, but remember, we move with the pair ahead of time. This should be of concern, and therefore, we may see a pullback again
The stochastic is high, and shows overbought signs.
Strategy SELL @ 18.8500-18.8800 and place SL above 18.9450. Profit order @ 18.6150.
USDZAR-BUY strategy 4-hourly chartThe pair moved as expected, and we reached profit objective and slightly more. For now, I feel we must continue from BUY side due to the expected GOLD and other precious metals corrections. There should be some pullback towards 18.6150 I feel.
Strategy BUY @ 18.6150-18.6500 and take profit @ 18.8750. SL I feel maybe below 18.5150.
Sell on USDZARThis pair has been long coming we have been on the sell for the longest of time. Price has been heading down for quite sometime now, but our reason for entry is that it broke and retested the trend and the short standing resistance it has created.
USDZAR-BUY strategy 4-hourly chartThe pair has moved lower, which was logical, but would not have ventured beyond 18.5600 for the reasons stated. now we are much lower, and my view is same as yesterday, we seek BUY entries now in expectation of GOLD correction.
Strategy BUY @ 18.4150-18.4550 and take profit @ 18.6475 now. SL place below 18.3150 as I do not wish to be tricked into it. However, it is a personal choice where you place your SL of course.
USDZAR-BUY strategy 4-hourly chartthe pair is oversold, but not extreme, and stochastic is not too low as yet. However, I feel with GOLD levels, we should concentrate on GOLD movement, and its heavily overbought, hence we should look for BUY for the pair now.
Strategy BUY @ 18.4350-18.4600 and place SL below 18.3150 (I do not want SL to near now). Profit order @ 18.6850.
Calm and composed ZAR ahead of the local elections. With the help of stronger commodity prices, the local unit is weathering the volatility storms ahead of the local elections. The rand has been able to keep the USDZAR pair below the critical rate of 18.97 which has allowed the rand to pull the pair below the 200-day MA support of 18.75, despite the broad-based dollar strength.
The pair however remains trapped in the blue wedge but the rand is knocking on the bottom end of the wedge once again. A test on the support rate of 18.54 seems like the next move for the pair but I expect the blue support range between 18.30 and 18.40 to hold its ground before the elections, if the rand manages to catch that break.
A failed break below 18.50 will however see the pair pop back higher to re-test the critical rate of 18.97.
USDZAR down (-0.61%) today, take advantage and sell, 4hrUSDZAR in selling after a breakout from our trendline. With a head & shoulder inside the trend that confirmed the trend reversal we will will gain a few pips with the selling train until the beginning point of the head & shoulder.
USDZAR-NEUTRAL strategy update 4-hourly chartI took profit at 18.5650 and did this due to uncertainties of GOLD correction, when it will happen etc.
For now, am side line and consider NEUTRAL stance for the pair. However, noting we are going negative stochastic, and there is a possibility to move lower to test 18.5150 and maybe even 18.4350. I am not pushing it am careful and prudent.
Will update once I have a strong conviction of what to do next.
USDZAR-NEUTRAL SELL strategy 4-hourly chartI aborted the pair near 18.6900 as it starts looking tired for now. The stochastic is starting to look negative (not as yet) but it feels it will and besides GOLD is higher again, even though over bought heavily, we should consider the likely event of a test of 18.5500. For now am a careful SELL or stay neutral at current conditions. I would certainly be buyer lower levels near 18.4750 area, if seen.
Strategy SELL (if one wishes too) @ 18.6500-18.6800 and take profit near 18.5150. SL guess place this above 18.7950 now.
USDZAR BUYSThis pair is very tricky at this point as it rests on trend line. Many traders anticipate a breakout toward 17.5 but before that can happen, we believe sell will only be activated at 19.6. Let's buy and hold. The chart is self-explanatory.
USDZARThis is what I see, I anticipate a sell on the Zone above, I guess it will fill the imbalance then a drop of about 100 point or above
USDZAR-BUY strategy 4-hourly chartThe pair has remained supported 18.5500 area and SL change has protected it from harm. We are embarking on a move higher and as mentioned earlier, GOLD is correcting and feel it will start moving towards $ 2,235 soon and lower.
Strategy is keep positions that are LONG or add or BUY @ 18.6750-18.7000 and take profit @ 18.8450 for now. SL keep same @ 18.5500 below for existing positions or @ 18.6150 below.
USDZAR-BUY strategy 4-hourly chartThe pair has moved through the 18.7000 area and that is why we moved little further down. that is why we keep SL for such situations, and it got triggered.
Now we are still below 18.7000 and we are in low stochastic areas, suggesting we are oversold. the key is GOLD of course, and when GOLD correction idea is right, this pair will move back 19.0500 area.
Strategy BU*Y @ 18.6350-18.6550 and place SL below 18.5750 for now. Profit order @ 18.9450 for now.
