EUR/ZAR AnalysisEUR is behaving the same way as the USD & the POUND against the RAND
EUR/ZAR - The EUR has lost almost 4% against the RAND in 12 days.
Will it also bounce back up ?
ZAREUR trade ideas
EURZAR - A perfect setupA setup can't get much better than this for the system I am using; both time frames align perfectly to create a low risk high probability trade.
On the weekly chart, a return to the wave after a long period of buying the Rand also marks a test of the broken H&S neckline. This is all you need to go look for a trade on the daily chart. Note that the impulse is still green and that keeps me from putting on my full position.
On the daily chart, a perfect double top with confirmed class A bearish divergences on MACD lines and histogram, and a dark cloud cover for the trigger.
As soon as the impulse turns blue on the weekly chart, I will double my short position.
Keep in mind that the Rand yields 7% per year, so the longer it takes for this pair to reach my target, the better.
Soft stop above the double top, first target at the swing low, if that breaks, look for 12.6.
EURZAR - bullish correctionBulls are likely going to deliver another upward impulse in wave {c} of B
AFTER THE BULL BACK I WILL SHORT EZSHORT POSITION,WAIT FOR A PULL BACK BEFORE GOING SHORT. I'LL BE EYING THE CRITICAL RISISTANCE LEVEL
(13.56156)
AFTER PULL BACK SHORTLONG TERM SHORT POSITION AFTER THE BULL BACK TOWARDS THE SUPPORT TURNED INTO RISISTANCE
(13.56156 AREA) THAT'S MY VIEW ON EURZAR
Clear forecast of EURZAR in a 4h chartWe are looking for a buy. EURZAR is in a uptrend that gives us a great opportunity to take a swing. This pair is in my watch-list this week.
Happy trading every! Good luck
EURZAR - wave AA bearish impulse in wave A is going to end soon, so there's an opportunity to have a correction in the short term
EURZAR - WATCH THIS WEDGEPut this one on your watch lists folks. I'm looking for a downward break to sell if buyers get thwarted.
Break above 15.20 will setup for a long entryDownward ABCD move is completing. Could see strength coming at above 15.20 level or see slight pullback toward the trendline and then move up.
