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U.S. Dollar / South African Rand

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USDZAR trade ideas

USD/ZAR Price Turns BearishUSDZAR Has been in an impulse phase and it has been completed with no rules violated. We are in the bearish phase of the market, we have two counts going on where it could be an impulse in the downside suggesting a long-term sell-off or a short-term sell-off as a correction meaning we are trading in a wave (C) instead. The idea of an impulse is a little complex but the idea would be to trade a wave 3 looking at the retracement it would make sense to target the 2,618. Correlating this pair to USDCAD we are more likely to have long-term sells but keeping an eye on the price level where a Zig-Zag pattern completes will be very important.
Short
by Weshareio
1
USDZAR Neutral | Could go either way - 5% lower or higherSeasonality may be coming into effect in the next few weeks. Which ever the case may be, it is never a stronger rand but rather a weaker dollar. Historical, March is a period in which the dollar weakens a bit and markets rally a bit before a strong sell off through to April/May. This should benefit the rand. I am neutral on this pair because the dollar is trading within a range/consolidating. I've highlighted rejection areas and support areas as targets on either break-out/down for USDZAR.
by N_I_G
UZThis is very nice, because it is slightly textbook. Yet knowing the fundamentals of the country, we will break through any sell bias you can think of. One day my goal would be to push that price all the way to either less R5/$ for a dollar or even to 1:1. For now I just would like to set a realistic goal of under R15/$. With the right leadership and the fight in our hearts we could and we will and when it happens, I'll come back to this post and clap for us as a nation. 🫱🏿‍🫲🏿🍾👑😁
by Mhangwane1
USD/ZAR target hit at R18.48 & we have another dreadful target It pains me to say our USD/ZAR trade hit the take profit level at R18.48 and now it looks like further upside for the USD is on the way. Another Cup and Handle has formed, which has broken above the neckline. And if we place the stop loss below the handle, we get the next target at R19.71. 7>21>200 RSI>50 Target R19.71 With interest rates on the rise in America after Daddy Powell mentioned more upside to come, meanse investors will continue to invest in the US dollar with high income yielding assets like Bonds, Money Markets and High interest savings rates options. As long as interest rates (or the fear of them) continue up, we will continue to see US dollar strength which will bring down many other exotic currencies like the rand.
Long
by Timonrosso
USDZAR Turning Bearish?Hi A look at the USDZAR H2 chart, the price is bearish at 18.20, with daily momentum pushing down at that level. The price could form a bullish low near 17.99 that sets up a bearish pullback either at 18.28 or 18.40. Alternatively, the price could pull up from the current price level to test the 1840 level and fall. Monitoring is required. Risky! A stochastic indicator shows that the overall trend is bearish, with a bias of 17.41406 and a price target level of 17.671. 
Short
by Khiwe