ZARUSD trade ideas
USDZAR-BUY strategy 4-hourly chartThe pair has moved sharply lower on the back of GOLD. Now we are in the lower band with support 19.0050 area and top around 19.3000. For now am a careful buyer, since GOLD might be over done now.
Strategy BUY @ 19.0650-19.1000 and place SL below 19.0000. Profit order @ 19.2350.
USDZARPrevious setup on GBPAUD, went well is about 100pips in profit... Lets just hope this setup for this week will go well as well
USD/ZAR may rise 1117 - 1657 pips19.0660 is our pivot point.
Our preference
Rebound.
Alternative scenario
Below 19.0660, expect 18.9760 and 18.9220.
Comment
The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (19.1650) but below its 50 period moving average (19.1890).
Supports and resistances
19.4600 **
19.4070 *
19.3530 **
19.2990
19.1873 last
19.1010
19.0660 **
18.9760 *
18.9220 **
Number of asterisks represents the strength of support and resistance levels.
USDZAR-BUY strategy 4-hourly chartThe pair has moved as expected, and now it will consolidate somewhat. I feel we may see re-test lower area, but then perhaps we should try the BUY side again.
Strategy BUY @ 19.0450-19.0700 and place SL below 18.9700 and take profit @ 19.2350.
USDZAR Up.USDZAR Up.
Price flattening at bottom.
Deep divergence.
Possible lowest volume of day at base.
There's a previous Resistance at base thats possibly turning into Support now.
Too many confluences.
5-10x RR.
usdzarConfirmation of a sell on usdzar I have sent analysis on USDZAR..the market choose to give us a perfect breakout on a sell
USDZAR We are.still waiting for a confirmation candle stick.. cause now the market it's still consolidating..we are just waking for A confirmation breakout can still..that's when we will know weather the market will continue with the uptror Start will the down trend
Possible retest and continuation to upside or downside to HLOur resistance point is the high of Q4 (R19,6282) which is also the head of the head and shoulder pattern.
Looking at recently a AB=CD pattern could complete near the recent higher high which is also last weeks high, and I'm expecting a sell signal could mean a possible reversal to last week low ,which is also the recent higher low (R18,81728) however a possible retest and continuation to the upside is also on the cards near (R19,15924).
USDZAR - Weekly Pennant BreakFollowing on from the previous post, we have now closed above the R19.20 important level for the USDZAR. The odds are we likely target R19.44-50 then R19.65 next while R19.20 intact. The double bottom has a measured move to R20.20 (trend remains up).
Below R18.77 would signal a failed break which would favour the rand on the bigger picture.
Previous Post in link
USDZAR Up trend on usdzar..
On usdzar it's on 19.20788.
Then bounche back again and continue with its uptrend..
Our Tp1 will be on 19.63254
Then our second tp2 will be on 19.90928..
USDZAR-SELL strategy 4-hourly chartI am traveling, and lucky got small time to update quickly.
We spiked and this looked likely, but difficult to be sure. Now we are at lofty heights again, and now we need to find the SELL level to ensure we are safe.
Stochastic is turning and this helps on the SELL strategy.
Strategy SELL @ 19.3150 - 19.3450 and place SL above 19.4350 and take profit @ 19.0575.
Blue wedge, topside or downside break? Our beloved rand seems to be on the ropes again after a stronger than expected US CPI print. The stronger than expected US CPI is cooling last year’s aggressive rate cut expectations which is dollar positive and drives risk-off sentiment, which is rand negative.
Zooming out, the USD/ZAR pair has been in a wedge pattern since the rand made its 2Q2023 recovery which saw the rand pull the pair to a low of 17.41 before the rand folded back to 19.64 in 4Q2023. The blue support range between 18.31 and 18.40 has capped the rand’s gains since the backend of 2023 and the pair failed to break below the 50-day and 200-day MAs to re-test this support range in January 2024.
To the topside we have the red resistance range of 19.15 and 19.30. The pair is expected to re-test this range following this afternoon’s price action, if it breaks above the black downward trendline.
The critical rates to watch is the January 2024 high at 19.22 and the 61.8% Fibo rate of 18.97. A break above 19.22 will be an early signal for a possible topside break out of the blue wedge which will see the rand slide back above 19.65. Conversely, a move below 18.97 will allow the rand to re-test the 50-day and 200-day MAs which coincides with the bottom of the blue range.
A downside break will allow the rand to recover to a best-case scenario of 18.00.
Factors motivating a topside break: Expected rate cuts from the Fed in March don’t materialize and commodity prices, particularly platinum, remain subdued. For now, I’m on the fence since these macro-economic factors can flip in an instant.
Technically, not much can be made of from the RSI which still has room to move higher while the failed break below the 50-day and 200-day MAs is rand negative.
Topside or downside break out of the blue wedge, please leave your comment below!
USD/ZAR Look for a series of higher highs and higher lows on the price chart.
Enter a long (buy) trade when the price makes a pullback to a higher low, anticipating that the uptrend will continue.
Place a stop-loss order below the most recent higher low to manage risk.
Take profit when the price makes a new higher high.
Downtrend Trading:
Look for a series of lower highs and lower lows on the price chart.
Enter a short (sell) trade when the price makes a retracement to a lower high, anticipating that the downtrend will continue.
Place a stop-loss order above the most recent lower high to manage risk.
Take profit when the price makes a new lower low.
long expectations on USDZARLooking at the long possibility on USDZAR, we could expect a bullish movement starting at a retracement at 18.83 as its the initial value for both the double bottom formation and the retest on the 11.8% fibo level which marks the average between the 0 and the 23.6% level, this is a very beautiful setup that we shall follow after the breakout on the 19.20 or the bearish momentum.
USDZAR Double confirmation sell signalThe USDZAR pair is trading above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), on a strong consolidation phase as it approaches the end of an 8-month Triangle. Having been rejected last week very close to not only the Triangle's top but also the (dotted) Channel Up top (Lower Highs trend-line), we have a strong short-term sell signal in our hands. Our Target is Support 1 at 18.555.
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Usdzar long sell reversal Looking at USDZAR which on point 19.00226..
If you can take I clear look on the previous 4hour candle stick has hit our support..which means it has confirmed our reversal.on the 24th of Jan 2024 we had a reversal exactly on that point..
Our tp1 will be on point 18.83063
And our tp2 will be on point 18.857289
Our last to which is tp3 will be on point 18.23294
Possible buy OppertunityPrice has found support and is at the bottom of the Keltner channel, price also has pushed below EMA's which is a good entry in my opinion. Overall price is still in a downward trend on the 4h but it seems price needs to push up first. RSI still negative but close to the mean and stoch RSI is overbought on 4h
BULLISH USDZARAwaiting a breakout of the bullish channel and price could hit targets; 19.20 or 19.50.
