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SOUTH AFRICAN RAND / U.S. DOLLAR

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ZARUSD trade ideas

USDZAR-SELL strategy 4 hourlyThe pair did test 18.7400 area and fell too a low of 18.5250 area and recovered upwards. The issue is, we are boxed-in within GANN support and resistance, ranging 18.5600 - 18.7400. The stochastic is negative, and for that reason, I prefer SELL into rally. If short, and not taken back low 18.50s I suggest to abort now. I feel we may see higher first, but this is for SELL strategy, and not to recommend a BUY for now. Strategy SELL @ 18.6900-18.7250 and place SL above 18.7800. Profit target is near 18.3150 now (above 18.2700 T-line support area).
Short
by peterbokma
USDZAR-SELL strategy 4 hourly chartThe pair has been unable to move much higher, and considering GANN resistance now 18.3600 area, and a double bottom 18.2500 estimated, and negative stochastic, albeit low, suggest we may see a large move lower. This is purely assumption and believe, and do not take my word for it. However, a tight stop-loss may do the trick and protect in case we are wrong. Strategy SELL @ 18.2800-18.3100 and place stop-loss above 18.3750 and profit order @ 18.0850.
Short
by peterbokma
2
USDZAR-SELL strategy 4-hourly chartThe pair had a strong move higher, and this is also inline with the dollar index movement. Same as some other pairs, we are starting to see a s/h/s patter (inverse), and this suggests we may see much higher levels in time. the breakout point is around 18.6550. For now, it feels we are slightly overdone, hence I prefer SELL strategy but with a tight stop. Strategy SELL @ 18.5700-18.6100 and place SL above 18.6700. Profit order suggested @ 18.4350.
Short
by peterbokma
USDZAR-BUY strategy Daily chartThe pair had a large move down inline with DOLLAR INDEX and other pairs. GOLD steady but am expecting GOLD to move lower again. 4-Hourly chart stochastic is positive and low, but daily is negative, but a doji for the close of the day. Overall, I feel we may try higher again, but carefully pick the entry level. Strategy BUY @ 18.1950-18.2350 and place SL below 18.1000 now. Of course, it is all about your personal situation. I may state a SL, and I may or may not maintain it or maybe even further away from my suggestions. Profit order let's say @ 18.4350.
Long
by peterbokma
1