The Long term trend on USDZARUSDZAR is currently Trading at 13.7462 and I Believe the the market might go back to the 19 dollar mark. Right now the market is at a swing Low and Im Waiting on a sign of a reversal on This market and buy it until the 19 dollar level.Longby jrthereaper1Updated 225
UsdzarI'm expecting another buy for the pair since we jus played around supporting trend line.And again because market just did a retest on a neckline...Longby youowemeson1
UPDATE USDZAR Still on track to the first target R19.80We posted this trade alert around 24 April saying, we have bad news for the South African rand. The trade is still on track to the first target at R19.80. Once it surpasses, it'll need to consolidate move in a sideways range before the next breakout. Hopefully, it won't be up again. But anyways, the demand is strong for the USD against the ZAR and we can do nothing but wait. Longby Timonrosso5
USDZARtrade has induced buyers direction , stops hit , now the reversal has happened price is going to continue downwards we already took some profits , but its good to enter short position Swing tradeShortby Kagaayi_Bryan0
USDZAR - the rand finding friends hard to come by The ZAR (South African rand) has come up on the radar as sellers have dominated and a true buyers strike ensues. We’re seeing longer-dated South African govt bonds sell off aggressively, with yields on 25yr government debt rising above 12.5% and the highest levels since 2020. The energy shortage continues to take a toll on economics and talk of increasing stagflation risks will typically attract currency sellers – the April CPI print (due 24 May) could be important in determining if the SA central bank (SARB) is indeed ready to pause in its hiking cycle, with SARB policy meeting due 25 May. Geopolitical issues are also weighing to an extent with the US ambassador to SA accusing the country of supplying arms to Russia. Favour buying weakness in USDZAR into 19.05. Longby Pepperstone4
Usd/Zar Reversal Pattern Monthly Chart)UsdZar has a reversal pattern on the weekly and monthly chart. Usd/Zar is currently rejecting this reaistance on early time frames. I am selling now with a small position that I will hold for a few weeks.Shortby RlcTrading114
$USDZAR Chickens coming home to roostA govenment in denial over a power crisis Chickens are coming home to roost Target for this head and shoulder break is R19,53 Longby KoosKanmar2
Possible Short Opportunity: USDZARLooks like it won't stay long. All time High with a possible short term Bearish.Shortby BVDollar110
Usdzar is Short Awaiting for the last straw to touch order block then down low I go for mzansi currency. I will see how it goes... Happy trading 💱Shortby ellcothleoma025
USDZAR - Tussle for directionThe ZAR has been fighting for direction at the downward sloping line of resistance (yellow). Either we see a breakout at which point it could possibly test the previous spike of 19.30 (hit in 2020), or we see some strengthening towards the more reasonable and fair value levels of 17 and below. by Trad3r_162
USDZAR 08/05/2023Weekly: -Inverse H&S pattern. -No structure that could stop the price. Daily: -Inverse H&S pattern. 4H: -Bullish M pattern.Longby HANSFXTRADER3
usdzar buyusdzar is in an uptrend with bullish fundamentals. buy at the bottom of the range for a move back to the top of the range and potentially higher. Longby JoshW04113
USDZAR - Instant Short Position - H1USDZAR - Instant Short Position - H1 The Rand might gain some strength back, but we are still facing major economic and energy issues. This is a very volatile pair. Shortby Elektro-Analysis0
USD/ZAR | EXPECTING TREND REVERSALUSD/ZAR: Technical Outlook We have observed a bullish divergence after a 1.58% drop Price action has already created the first higher high waiting for the restest, will take a trade above the last higher high at 18.3571 Buyers will remain in control above the 18.16782 Trade Plan Stop Loss: 18.16782 Entry Level: 18.35715 Take Profit: 18.54778 Longby Syedbilal1
4h USDZARSupport at 18.21, which coincides with 50-day MA and 61.8% Fibo is holding support. A failed break below 18.21 will allow the pair to retest the resistance range between 18.48 and 18.55. A break below 18.21 will however see the pair slide back between the support range between 18.00 and 18.10. For a more detailed analysis see the linked idea.by Goose961
Q. Why when the FED raises interest rates does the rand weaken?A. Whenever you think about a country raising interest rates, we need to consider what happens to investors and where they are more likely to deposit their money. So, as we are expecting an increase in interest rates this month from the FED, there are a few reasons why we can expect the rand to weaken further: Here are three to consider… Reason #1: Investors flock to the US Dollar When the US Federal Reserve raises interest rates, it becomes more attractive for investors to hold or buy US-dollar denominated assets. That’s because they know they’ll receive a higher rate when they invest in it. This will also lead to a rise in the US dollar and a drop in smaller currencies (like the rand). Reason #2: US Dollar is still the fat cat of reserve currencies A rise in US interest rates may lead to higher borrowing costs globally. This is because the US dollar is still the world's primary reserve currency. When we think of gold, Bitcoin and other precious metals, we think of how it’s priced in US dollars. The problem with this, is that emerging market countries, like South Africa, will face higher debt-servicing costs as the US interest rates continue to move up. And this could continue to put pressure on their economies which will lead to a depreciation in the rand. Reason #3: South Africa is still a big exporter Also, South Africa remains one of the major exporters of commodities. And the value of the rand is linked to fluctuations in commodity prices. So, when US interest rates rise, this leads to a stronger US dollar. And can cause commodity prices to drop (as they are generally priced in US dollars). As South Africa is a major commodity exporter, the lower commodity prices would have a negative impact in SA’s export revenue – which can in turn weaken the rand further. Educationby Timonrosso1112
Shorting USDZARWaiting for the hourly candle to retest on the resistance by UnknownUnicorn36396476Updated 1
Pre-FOMC; When in doubt, zoom out.It is guaranteed to be a volatile week given the stacked economic calendar. Tonight, the Fed is expected to hike interest rates by 25bps, and on Friday we have the always highly anticipated US non-farm payroll data. As per my previous idea, I got the timing wrong for my expected move to 18.55 but I’m still holding my buy orders in placed around the 18.21 level which coincides with the 50-day MA and the black 61.8% Fibo retracement rate. The rand was on the backfoot yesterday which saw the pair push up into the red resistance range between 18.50 and 18.55. The dollar is however weaker across the board this morning which is allowing the rand to pull the pair lower towards the navy-blue downward channel’s neckline. It seems as if the pair broke out of this downward channel but don’t rule out a retest of the upper neckline of this channel (support range between 18.28 and 18.33). A break below this support range will allow the pair to re-test 18.21. 18.21 is a critical support level, a break below will invalidate my expected move above 18.55 and will allow the rand to pull the pair into the blue support range between 18.00 and 18.10. The resistance rates to watch sit between 18.50 and 18.60. A break above this range will confirm my expected 5-wave impulse and the test of the yearly high at 18.71. The daily indicators are rand negative. The MACD is holding a buy signal while the RSI still has plenty room to move higher before sliding into overbought ranges. Fundamentals (latest US data prints): The writing is on the wall for a stagflation environment over the next 3-5 years. The latest US GDP print for the 1Q2023 came in at 1.1%, down from 2.6% QoQ. It is clear that the US and the Fed won’t avoid a recession or the “soft landing” bs they refer to. But wait there’s more, the recent interest rate cycle has not managed to contain inflation, gasp, with the latest PCE price index rising by 4.2% in 1Q2023, up from 3.7%. A low growth inflationary environment does not bode well for risk assets such as the rand and the recent fragilities in the US banking sector will only increase investor risk-off sentiment. All these factors are rand negative. Zooming back to the present, yesterday’s trading saw the DXY close lower after it touched a three-week high of 102.409. The DXY is firmly on the backfoot this morning and is currently back below the 102 handle in the lead up to the Fed hike. There were also some peculiar moves in the US bond market in yesterday’s session in the lead up to today’s Fed rate decision. US bond yields cratered as the US 10-year yield fell from 3.575% to 3.429% while the shorter dated 02-year yield fell back below 4%. Longby Goose960
#USDZAR - R$ / Fed Meeting- The USDZAR ended the month of April with an "inside" bar which means it stayed within the range of the previous month (March). - Inside bars normally depict a consolidation period before a new leg , be it to the upside in the case of continuation of trend or a reversal. - The FED meeting tonight is likely going to be the catalyst for the next move and breakout.by Trader-Dan1
USD/ZAR | SHORT | HARMONIC PATTERNUSD/ZAR: Technical Outlook We have observed bearish divergence as well as forming of a Harmonic reversal pattern The Price action is at PRZ Waiting for the breakout of the PRZ taking a sell-stop trade Sellers will remain in control below 18.3305 Trade Plan Stop Loss: 18.5377 Entry Level: 18.44389 TP 1: 18.35008 Shortby Syedbilal1
Long term buy on USDZROn technical analysis we have C*H formation on usdzar for DTF We have inverted H&S Patten on 4HTF We have a recent double bottom on 4HTF We have pennant formation on 4HTF We have load shedding in South Africa Eskom is in shambles Those are all reasons for a long term buy in usdzarLongby snduku2018223
USDZARNo Divergence Noticeable. Symmetrical Triangle Formation. Already Test It's Golden Fib Level (0.5) Will it come down again to retest it? OR It will give a Breakout. Support and Resistance Zone is already marked. by muhammadsufyan40003
USDZARSeeing buyside liquidity on $ZAR and ZAR has been failing to gain strength for some time now. Longby CedricSkolo1