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SOUTH AFRICAN RAND / U.S. DOLLAR

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ZARUSD trade ideas

Fundamental & Technical analysis on USDZAR shorts Fundamental : Open Interest on the South African Rand is increasing which is a Bearish signal/confluence. Commercial (Hedgers) Short positions are also increasing which for Exotic pairs like USDZAR means they are covering their Longs and add yet another Bearish confluence. Non-Commercial is also increasing its Long positions which is once again Bearish since you have too see it from a 180 degree view point. COT Report : cot-reports.com Technical : On the Technical Analysis side of things we have the 5 EMA crossing down the 20 EMA at the same time that Momentum is negative and the Stochastic %K line is underneath the 50% line Stop Loss & Take Profits : To determine my Stop Loss and Take Profits I use a Fib Retracement drawn from a recent significant Low to a recent High. My strategy uses the 0.236 Fib LVL as the Stop Loss, for this trade that means 18.51172 on the chart is my Stop. Take Profit #1 is at Fib LVL 1.272, Take Profit #2 is at Fib LVL 1.414, Take Profit #3 is at Fib LVL 1.618, Take Profit #4 is at Fib LVL 2, Take Profit #5 is at Fib LVL 2.272, and my final Take Profit which is #6 is at Fib LVL 2.618.
Short
by Iateyourcroissant
“USDZAR on a Downward Trend”The South African Reserve Bank has reduced the policy interest rate to 8.00%. Following this move, the reversals at the 17.40 level in the USDZAR pair have drawn attention. The Fed had unexpectedly cut rates by 50 basis points at its September meeting. This situation has led to significant losses in dollar assets, while we can observe that any increases in the USDZAR pair remain limited. From a technical perspective, if the exchange rate surpasses the 17.70 level, rises may initially extend to 17.95 and then to the 18.20 resistance level. On the downside, if the 17.40 level is breached, we could see a decline to 17.15 and then to the 16.90 support level.
by primequotes
Rand going upThe Dollar has been weak n is getting weaker n the Rand is getting stronger by the day from point 17.88249 the Dollar has been losing its steam n the Rand has accumulating from those Dollar losses, now the price is trading below the Sep 12th n 16th and showing no real sign of breaking to the top side of the trend line to close above... The price will then look to create more steam on Rand for it to keep on growing, n the next price level for Rand on Dollar is 17.41700 Details on trade set up on chart
Short
by SMR_Analytics
5
Dollar to slip down n Rand to growThe Dollar has been weak n is getting weaker n the Rand is getting stronger by the day from point 17.88249 the Dollar has been losing its steam n the Rand has accumulating from those Dollar losses, now the price is trading below the Sep 12th n 16th and showing no real sign of breaking to the top side of the trend line to close above... The price will then look to create more steam on Rand for it to keep on growing, n the next price level for Rand on Dollar is 17.41700 trading set up on the chart
Short
by SMR_Analytics
9/16 LIVE TRADING IDEAS (STOCKS, FX, & COMMODITIES) | EDUCATION Join me as I document trading ideas for tomorrow 9/16/2024 and look through our watchlist for trading ideas. This is for educational & documentation purposes. As a part of our accountability challenge we are responsible for tracking our trading ideas daily and reviewing markets to train our eyes to look for our edge. STOCKS, FOREX, & COMMODITIES Watchlist. I use technical analysis to qualify trading opportunities and strickly pay attention to the daily chart. Feel free to leave comments on what you agree with or what you think is rubbish. This is a community effort and all opinions are welcome. Trade Safe, TL Turner
by TLTurnerTV