USDZAR-BUY strategyShort-term am buyer and I feel the pair can move back towards estimated FIB 0.236 18.96 area.
Strategy is BUY current 18.70-18.7400 and take profit @ 18.8575 for now.
USDZAR trade ideas
USDZAR-BUY strategy 4-hourlyThe pair is oversold on 4-hourly chart, and for that reason I feel its for a good cause.
The prices are low into BB and further judging the history, we are somewhere near a bottom for short-term gain.
Strategy is BU8Y @ 18.7400 - 18.75 and take profit @ 18.8575 for now. we buy in further weakness applying a low leverage of course.
shorter timeframe updated from previous idea usdzar continues to plan from last week's idea , we expected usdzar bearish pressure, and the idea is proceeding as planned. collected partials , as a short term uptrend is expected , but the idea remains the same after the short term expecting more bearish pressure for usdzar
UPDATE USDZAR hit my target price unfortunately at R19.80 - WaitSince the USD/ZAR hit my target price at R19.80. It's been retracting a bit.
It weakened fast and furious. And now we can expect a bit of a retracement before the USD continues to strengthen.
I truly hope the USD/ZAR continues to weaken so the rand can strengthen more...
It's embarrassing seeing the rand at levels above R19 in the US, UK, Swiss etc...
Come one South Africa!
Time to make profit on USDZARhi every one
complete pullback to the trendline with 6% profit Potential
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Long bearish USDZAR the rand might strengthen further I'm seeing a long bearish on USDZAR the Rand might strengthen further to 1694.00 by nd of the year
USD/ZAR Mid week reversalCurrently Testing Low of the week + Low of previous day
Waiting for a fakeout below current Low to trap sellers and a swift move up between London/New York session.
my first ever publish from my phone will have better detailed marked up charts next time
USDZAR- SELL strategySome week back I suggested a SELL strategy @ 19.78 or higher. The potential was at the time for a slight upward move, and we saw a high of around 19.91.
For those that have shorted, I suggest profit order @ 18.47 for now. the stop-loss can now be at break even @ 19.80 let's say.
USDZAR - UpdateFollowing on from the previous post, the minor support at R19.80 did indeed hold for the ZAR and the rand has strengthened to below the R19.25
The next hurdle is the 20ema at R19.16 which could open a test of the channel lows around R18.95
I still expect a test of R18.60-70 at some point.
Alternatively, if we score another "own goal" or the dolalr rallies, we could break back through R19.50 again which is the new support.
Usdzar is shortA full scale setup on Mzansi pair. It shows a huge pullback to the previous Low point.
I will see how it goes. Happy trading
TARGET reached for USDZAR unfortunately to R19.80!It was written in the charts.
The USD ZAR formed the Symmetrical Triangle on the daily.
The price consolidated and squeezed until it reached the Apex.
Then because the prior trend was up, the breakout was up and lead to a continuation in the trend.
The price then went to a dire R19.80!
Let's hope it forms a Buy Side Liquidity order block for Smart Money to sell into and bring the price back down.
But with what is going on with South Africa coalescing with Russia and with Eskom's issues, the confidence rate is dropping hard...
Sorry South Africa. The most beautiful country with amazing people and the government is messing it up!
USDZAR 2023 Yearly Structure OHLC [Sell Setup] Alert!🚨🚨🚨USDZAR 2023 Yearly Structure
OHLC Alert!
There is a significant bearish divergence observed in the monthly time frame, starting from February 1st, 2016 , up until the current market price on May 1st, 2023 . This bearish divergence indicates a growing dominance of sellers in the market. Additionally, the price in the monthly time frame indicates a high opening for the current year of 2023, presenting a clear sell setup in formation.
Price is being rejected at 19.86470 , providing an opportune moment for selling. An ideal sell trade would occur when price closes below 19.36809 , accompanied by a reliable TDI cross to confirm the presence of sellers in the market. The first take profit level is set at 18.20213, while the second take profit level targets the 2023 yearly open at 17.40263 . It is important to exercise caution and await valid entries before executing any trades.
We kindly request your support for this idea by liking it if you find it useful.
Remember, success in trading requires both patience and discipline.
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ZAR weaker and weaker...USDZAR is still trading inside this channel and making higher market structure. Today, we have found support above our last high which signals a potential trend continuation...
USD / ZAR UpdateIn an earlier post, we highlighted that we were waiting for the ZAR to give us some direction - and give us direction it did! The currency blew out to the upside (weaker) and tested its previous lows of 19.30 as expected - should the move higher.. After the recent 50 basis point interest rate hike, we expected to see the ZAR strengthen - unfortunately however, its price action has taken us by surprise and the currency remains stubbornly weak for now, hovering close to its all time lows.
Usd/Zar Sell opportunity if the price do not break 20 Zar price meaning that there will be selling opportunities till to 16 Zar according to my analysis . But be careful on fundamentals they can shift the predictions on opposite direction
USDZAR-SELL strategyIt is starting to look overdone, and of course on the back of GOLD weakness, the pair could slightly go higher a bit before down again.
the strategy is careful SELL @ 19.7300 and add again @ 19.8700. I suggest profit order near 18.3700 and stop-loss above 20.1500. (we may be adding above 20.00.
An Unexpected Twist: ZAR Might Gain Strength When Least ExpectedIn this different trading idea, we want to bring attention to a potential shift in the USD/ZAR currency pair that goes against popular belief. Despite widespread negativity, we see a chance for the South African Rand (ZAR) to gain strength against the US Dollar (USD).
While USD/ZAR has been bullish (going up) for a while, there are signs that things could change. Looking at the monthly chart, we notice some technical factors pointing to a possible turnaround for ZAR. These include elliot wave analysis and a strong trendline formed on the monthly timeframe
Remember that trading against the crowd comes with risks, so it's important to manage those risks wisely. Develop a plan that considers potential market reversals and unexpected events. Pay attention to important price levels and use stop-loss orders to limit losses if needed.
While others might dismiss the idea of ZAR gaining strength, thinking differently can sometimes lead to unique opportunities for traders who are willing to explore alternative possibilities.
USDZAR - Minor SupportThe ZAR broke out of R19.50 and has reached next "minor" support at R19.80 ...
The level corresponds with the measured target of the flag pattern breakout.
A retest of the break level is likely to occur, but one cannot predict if it happens before the next level (R20) or after. (We can just follow the lower timeframes for direction).
USDZAR | Monthly Chart | Outlook USDZAR as we can see that it recently broke a crucial level around 18.50xxx during the course of this month creating new highs around 19.5xxxx.
Looking to the right we can see the if USDZAR closes above 18.50xxx at the end of May, we can expect USDZAR to push further up to touch 20.50xxx - 20.70xxx before attempting to come back down to settle around 17.5xxxx - 16.2xxxx.
Given the current economic climate of South Africa and all the challenges the country is facing, the overall out look still seems bleak for the ZAR and we can expect to see it weaken further against most if not all major currencies as it ventures further to new historic lows/levels.
