USDZAR Bullish TrendUSDZAR is currently in a bullish trend - The next possible moves are mentioned in the chart
USDZAR trade ideas
USDZAR SHORTS POTENTIALPrice has been rejected impulsively from the third touch of an ascending channel and is currently printing a trend continuation flag. Will be looking forward to taking this short opportunity if and when it materializes.
USDZAR (Bullish Trend)Bullish trend is continuing. Bullish Trend continues after making consecutive Higher Highs and Lows.
USDZAR DOW analysis says trend is bullishThe trend is bullish, According to DOW analysis New Higher Highs and Higher Lows are printing continuously. 2 entries at the same level but with different Take Profits. The total Risk is 2% of the account.
RAND VS DOLLAR (Technical & Mental perspective)The dollar currency has showed signs of strength, rejecting price level @100.4815, Which is also the 0.618% (discount) Fibbonnaci level, measured from the January 2018 Low @88.1967, to the High @114.728.
Now we can agree that the Dollar could surge even higher from the price, however the dollar to the rand exchange rate has neared it's 3 month High @18.58420.
The dollar should be slowing down on its rally and could/will make new highs but In
slower and less volatile market moves - signalling a shift in market structure and fear brewing in the market.
Speculators like you & I may perceive the dollar to rand exchange rate as expensive or too high that will lead to many closing or locking positions. Leaving the markets with minimal buying - side pressure and more sell - side pressure, causing a change in the initial direction and a shift into the market structure to a bearish sentiment.
DIRECTION -
INTRADAY/MID-TERM: ( from 21 Feb ) BULLISH - BUY
LONG TERM: BEARISH (Weekly/ Monthly)
USDZAR Break of minor Uptrend Price has broken and retested Uptrend channel showing bullish pressure
USDZARGuys this is your mentor VHT yes sir. The head and shoulder, has held guys, I'm super excited it shows spending and a lot of chat timing helps. I called the inverse H&S now it has made it's impulsive leg no need to fear guys it's gonna make/it should make a pullback to the neck line again guys so those of you who didn't get in be patient guys like I always say, the market will always respect the patient.
Sorry I didn't post this trade I'm a student in my final year so there has been a lot of work guys.
But I'm committed to you guys.
This is VHT your mentor signing out ✌️ ✨️
USDZARPRICE BREAK OUT FROM THE RESISTANCE TO CAUGHT SOME SELLERS OUT ANT DECEIVED SOME BUYERS TO BE A BREAK OUT WHERE AS IT WAS A FAKE OUT.
Second entry level activated to the down side.
Entry Criteria is based on an impulse followed by a correction that form a flag.
SELL setup on $ZAR1W or HTF I think we're in a corrective move that might print out a continuation correction/bull flag where as if drop to 1D market print out double top to push down/sell off and give us a 3rd touch for 1W correction. Let's do top to down analysis check out what we've on 4H market reach area of value in an ascending channel followed by impulse up and impulse down which is a clean sign for reversal. So let's wait for market to print out a continuation correction/bear flag to confirm SELL opportunities. TRADING PLAN IS YOUR TRADING NAVIGATION
$USDZAR Building a bear flagLooks like me might be building a bear flag.
A break of the flag will see us go back to test R16,28 levels.
Short-term 4H chartThe rand had a tough week at the office last week which saw the local unit depreciate roughly 2.37% against the dollar. Risk-on sentiment gained some enthusiasm following Powell’s speech on Tuesday which hit the right notes regarding the Fed’s self-proclaimed victory over inflation. The sentiment however soured after US CPI numbers for the month of December were revised higher later in the week. The combination of negative local factors and the dampened risk-on sentiment saw the pair break past the critical resistance rate of 17.83 (blue 61.8% Fibo retracement rate) to touch the November 2022 high of 17.95. Tuesday’s US CPI results for January most definitely has market moving potential which could put the rand back on the ropes but there is potential for the rand to attempt to get the pair back below the critical rate of 17.83.
The bearish divergence on the 4h RSI and the rising wedge formation is signalling a move lower towards the neckline of the upward channel and the 23.6% Fibo retracement rate at 17.70. I’m planning to drop some sell-limit orders above 17.85 with a take profit area between 17.60 (blue 50% Fibo retracement rate) and 17.70.
There is every possibility that the rand could pull the pair as low as the critical support at 17.50 (orange 23.6% Fibo retracement rate as mentioned in previous ideas) depending on how markets digest the latest US CPI results on Tuesday, but I don’t see the rand maintaining rates below 18.00 for too long given the current macro backdrop. A failed break below 17.50 could see the pair climb back to the 2022 highs in the 18.50’s.
(I'll post a longer-term daily and weekly timeframe idea during the week. I'm bearish on the rand over the longer-term)
USD ZARUSD ZAR is strongly moving to R18,00. Indicators are leading factors strongly motivating the movement. Possible pullback but then moving upward after reaching support 1.
-Positive trend line.
- momentum
- highs on highs
-the unfavourable political environment and the economic advantage it brings will likely push the currency towards R18.00.
