USDZAR-SELL strategy 4-hourly chartThe pair has touched the suggested SL level, and for that reason we have to enter little higher. We are supported by GANN level 19.0450 now, but stochastic is high, which means overall we will move lower in time. we remain keeping stops tight. The false bull flag pattern has changed slightly in its upper and lower band.
Strategy SELL @ 19.0850-19.1150 and place SL above 19.1675.
ZARUSD trade ideas
USDZAR-SELL strategy 4-hourlly chartThe pair has moved higher, and GOLD moved lower, in tandem. Now we have reached nice sell levels again, with high stochastic as well. We also have a false bull flag pattern, suggesting we should see lower again.
Strategy SEL @ 18.9450-19.0100 and place SL above 19.0650 and take profit @ 18.7550.
The wedge continues...The rand folded on Friday after the broad-based rise in the dollar. The rand managed to pull the pair to a low of 18.53 but this support rate held its ground. The pair still remains in the wedge pattern between the two blue trend lines and technically the higher low is not positive for the rand. I’m expecting a re-test of the 61.8% Fibo rate of 18.97 this week and a break above will allow the pair to inch back into the red resistance range between 19.15 and 19.28. For now, it’s too early to determine whether the pair is going to break to the top or bottom side of the current wedge but I’m leaning towards a break to the downside based on the expectations that the Fed will cut rates in around March.
Rand(ZAR) to 13 zar a dollar is possible13 rand a dollar is looking possible from here unless this yrs votes then go otherwise this might be a thing of the past.
Theres strong divergence visible between the RSI and the Market price, and correction is not yet complete as we need wave c of the correction before the flat continuation structure is complete.
USDZAR-BUY strategy 4-hourly chartThe pair has declined into the 18.50s and now establishing slightly above 18.6100 again.
The stochastic is low, and the regression channel gives room slight lower as well.
I would prefer not to rush into BUYING even though I think we will re-test 18.7400.
Strategy BUY @ 18.5350-18.5550 and take profit @ 18.7150 and SL below 18.4800 for now.
Unfilled orders tappingWe recently broke a supply area at 19.19152, this tells us buyers are starting to buy. Now we are tapping into the unfilled orders(demand area) at 18.53799.
Accumulation wedge into this area suggest furthermore that buyers are interested in this area. Now the objective of buyers is to break the newly formed high(19.19152). Buyers in control..
USDZAR - Rand consolidating 💲The pair continues to range between R19.20 & R18.20 and has formed a pennant pattern. As some point i expect this to break out with my bias to the upside as key moving averages are all trending up.
Only below R18.20-18.10 will the bearish case likely change for the rand.
USDZAR-BUY strategy 4-hourly chartIt feels we are overdone for this pair, but let's assume we may see lower a bit more. I feel stochastic is not too low, and we broke the channel support briefly as well.
We need to monitor the GANN support @ 18.6100 area.
Strategy BUY @ 18.5350-18.5500 and place SL below 18.4800 and take profit @ 18.7750.
USDZAR-NEUTRAL RANGE strategy 4-hourly chartThe pair has indeed broken through the expected 18.8500 area, and the scenario played out well. the decline did not go a sharp as I wanted it to be, as the 18.6500 has not met as yet.
The parallel channel shows we have a range of 18.6700 - 18.8900 and this will be the paying field for coming sessions is my feel. Ultimately we should see 18.6000 GANN test I believe.
Strategy BUY @ 18.7250-18.7400 and take profit @ 18.8875 with SL below 18.6550.
OR
Strategy SELL @ 18.8850 - 18.8650 and take profit @ 18.6850 with a SL @ 18.9450.
A possible reversal before taking of to 19.10 againOn the H4 chart the price movement confirms that there will be a pullback on rand against yhe dollar to 18.717... yhen the price will look up on 19.10.... for a retest to give the market a sideways movement for the next 5 months...
On the other side the H1 is showing a break for the bulls on the moving avarage and giving the price strength to push up with the dollar and against the rand...so the next high price on yhe rand against thedollar will be 19.10... for the coming week then anything can happen from there.... "Sideways or Drop with rand on dollar moving to 18.10...
Keep your eye on this one for your profits in greens