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U.S. Dollar / South African Rand

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USDZAR trade ideas

USDZAR- SELL strategy 4 hourlyI have underestimated the strength of the move, even though direction was fine. the pair is usually quite aggressive either direction, and that is why best to sit back until confirmation appears. When we consider GANN resistance, and the high reached, we may see that there is a likely hood for a return back towards 18.2000 short-term. the stochastic is negative and the RSI starting to become. Strategy SELL @ 18.45-18.55 (yes wide range and we have no choice this time) and take profit @ 18.2350 for now. The stop-loss suggesting a financial one that fits your budget.
Short
by peterbokma
USZAR-BUY strategy Daily chartThe weekly chart suggest we will see recovery upwards, but no confirmation as yet. The daily chart has a range downward sloping channel between 17.2900 - 17.8350 area. We are turning positive weekly chart stochastic, and the daily chart is, and AO is negative. Strategy I feel, BUY @ 17.40-17.70 (yes, I know wide selection, but no choice) and carefully place yourself. Stop-loss below 17.2700 and take profit @ 18.38-18.45 area. Unfortunately, the pair has been trading dramatic either side, and just keep GOLD in mind. The chart on GOLD suggests we may see little lower gold price at first.
Long
by peterbokma
USDZAR-RANGE strategy 2-HourlyThe pair had moved up, but speed was unexpected. It stalled @ 17.9800 area, and if one would have used the 2-hourly, one would have been short after stochastic breakage. The range we trade within is very wide, and makes it difficult for trend trading, but noting daily chart still sees potential 18.4500 and higher. The 2-hourly chart suggest we see little lower again, back towards 17.4700 area and strong support 17.4000 now. Gold is steady, and this should assist in being LONG the pair, if one chooses to be. Cloud resistance @ 17.7800 for now. Strategy based on 2-hourly chart is RANGE trade within the space of 18.00 and 17.40. I would prefer to BUY at lower levels @ 17.50-17.55 area and take profit @ 17.9800. Daily chart should BUY between 17.50-17.75 and take profit @ 18.3700.
by peterbokma
USDZAR-BUY strategy daily chartThe pair is building up for a long awaited move towards 18.2800 test. The stochastic is positive, but we require to close above 17.8650 confidently to make this happen. GOLD is softer and provide a basis for weaker ZAR. Strategy is BUY between 17.70-17.80 of on solid break 17.8650. Overall we will move north, but of course we prefer some confirmation. Stop-loss below 17.4500, and that is why we need a little deep pockets for this str5ategy due to the wide range is has traded within. Profit near 18.2800.
Long
by peterbokma
2
USDZAR-SELL strategy 4-HourlyWe ran up sharply yesterday based on the channel support and supportive stochastic and RSI, and the AO. Now we have come down sharply, which shows we are under pressure, and again 17.6500 area proves to be important resistance now. The stochastic is NEG and RSI as well, but not convincing. However, I feel we are in SELL mode now and we will likely test 17.4500 channel support is my view. Strategy SELL @ 17.5500-17.6000 and place stop-loss @ 17.6700. Profit order @ 17.4600.
Short
by peterbokma
6
USDZAR Short trading opportunity(swing-trading) 4I expect a swing of about 100cents-150cents all the way down to R16.00+- per dollar, expecting the ZAR to weaken in the short term within a month to a few month to 16.00+-. If the USA Federal Reserve stops hiking rates, and starts to slowly apply rate cuts then it could signal that the dollar might weaken a bit for the ZAR to strengthen against it, even considering domestic issues. I am risking money on this with a 1:1 leverage, but its more like I am moving money back to my local bank account (paying for studies/courses) than me using it in a short position. There is also a nice double top forming.
Short
by ricomister
USDZAR-BUY strategy 4 HourlyWe broke 17.6500 which would mean abort the LONG previously. We are within a wide channel, and leaves room for a lot of lows and highs. We have reached a low of near 17.5000 and currently little higher. The stochastic is positive and the AO is showing buyers on the coast. the RSI is oversold, but not extreme. Strategy is BUY within 17.4700 - 17.55 and place stop-loss below the channel support. The profit order first @ 17.6475, but if broken above 17.6500 we will see further upmove, and my initial thoughts on daily chart, 18.35-18.45 possible.
Long
by peterbokma