USDZARIs showing signs of bullish market structure , so this week we will e looking buying oppurtunities
ZARUSD trade ideas
ZAR trendIt will be interesting to see if the "new" trend will be maintained with the USDZAR possibly finding support around the 18.35 mark. Looking at the momentum indicators, we can see the dollar weakness very evident with the pair starting to hit over-sold levels. This suggests we can look at entering a long trade on the pair on that trend line in the coming days... One to keep an eye on
USDZAR-NEUTRAL The pair is trying to push lower on steady GOLD. My viewpoint earlier was we will likely move higher in time, but this is now diminishing. We have a neckline support 18.4000 area, which represents a not perfected looking S/H/S top, and if broken we may see south 17.9700.
Right now prefer NEUTRAL mode and monitor till more clear picture.
USDZAR USDZAR possible move, TP1 and TP2 given, follow me for more educative content, I do account management and also signals, Thankyou
USDZAR-NEUTRAL BUY Daily chartI am not super convinced of the lower level reached, as I felt 18.7200 area to be a good buying entry. We have moved further south, but stochastic looks turning positive, and the pressure still there for upside.
I remain NEUTRAL to being inclined to BUY between 18.5700-18.8500 wider than usual. Stop-loss below 18.4750 (financial). Profit order @ 18.9800 - 19.2700. The 18.9800 we require to monitor, as we may stall. For that reason am NEUTRAL BUY, and not convinced BUY.
Forex & Stocks: Capitalize on BRICS2023Hi Traders, Investors and Speculators of Charts 📈💰
The 15th BRICS summit is being held in South Africa from August 22-24, 2023 and will undoubtedly affect the Forex market. The main reason for this, is the commonly know agenda of BRICS to implement a new reserve currency instead of the USD. More details on that topic here:
The 5 Forex markets we'll consider are: FX_IDC:USDINR FX:USDCNH FX_IDC:USDRUB FX_IDC:USDBRL FX:USDZAR
As we can clearly see from the charts, from a Cycle / Phase analysis, it is dire time for the USD to correct as we see top outs in basically all of the charts Don't be surprised if it goes UP first, then down (sell the news but in reverse for the BRICS currencies).
The summit is being hosted by South Africa, which is the current chair of BRICS. The other members of BRICS are Brazil, Russia, India, and China.
The summit is expected to focus on the war in Ukraine, the global economy, and the expansion of BRICS. The theme of the summit is "BRICS and Africa: Intra-BRICS cooperation for sustainable development in Africa".
Russia's President Vladimir Putin is not attending the summit in person due to the international arrest warrant issued against him for alleged war crimes in Ukraine. He is being represented by Foreign Minister Sergei Lavrov.
The summit is expected to boost investor confidence in the BRICS economies. This is because the summit will provide an opportunity for the BRICS leaders to discuss ways to strengthen their economic cooperation and coordination. This could lead to increased investment in the BRICS economies, which would boost their growth prospects.
Top Stocks to consider are:
1. Petrobras (PBR) is the largest oil and gas company in Brazil. NYSE:PBR
2. Sberbank (SBER) is the largest bank in Russia. MOEX:SBER
3. State Bank of India (SBI) is the largest bank in India. BSE:SBIN
4. China Mobile (CHL) is the largest mobile phone company in China. MIL:CHL
5. Tencent (TCEHY) is a Chinese multinational technology conglomerate. OTC:TCEHY
6. Alibaba (BABA) is a Chinese multinational technology conglomerate. NYSE:BABA
7. Vale (VALE) is a Brazilian multinational mining company. NYSE:VALE
8. PetroChina (PTR) is the largest oil and gas company in China. SSE:601857
9. ONGC (ONGC) is the largest oil and gas company in India. NSE:ONGC
10. Infosys (INFY) is an Indian multinational information technology company. NSE:INFY
The summit is also expected to lead to a weaker US dollar. This means that the other currencies against the dollar as listed on the 4 charts will strengthen. This is because the BRICS countries are collectively a major source of demand for commodities, such as oil and gold. If the summit leads to increased investment in the BRICS economies, it could lead to higher demand for commodities, which would put upward pressure on commodity prices and the value of currencies of commodity-exporting countries, such as the Brazilian real and the Russian ruble. This would make the US dollar less attractive to investors, which could lead to a weaker dollar.
A great way to capitalize on the outcome of BRCIS 2023, is to anticipate and keep an eye out on markets that will potentially be positively affected by this summit.
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USDZAR Short trading opportunity(short-term) 15expect ZAR to weaken against the dollar about 40 cents +-, I have opened a short position with the size of (22000USD), speculating that the ZAR to weaken in the short term within a day or within a few days to 18.075+-.
Stop Loss is around 18.60+-, take profit is 18.075 , the entry price is 18.50+-
Usd/Zar is Bullish. A continuous bullish order flow is still in play. I will be continuing respecting to respect the uptrend movement and buy all the way.
Happy trading.
USDZAR ForecastPrice is trading in a nice Zig-Zag correction pattern in the bearish direction. We can expect a last drop before the next buys as a wave 3 for a bigger degree. One thing to focus on is the potential level at which the price might reach to( golden Fibonacci levels).
Understanding that waves A and C are often equal can help us identify a potential turning point of price. Judging from the wave A move which was a fast-paced price action we can tell that wave C will be a slow and choppy-moving price action.
USDZAR-NEUTRAL BUY strategyThe pair strong rebound suggest we may see more fire works upside. The AO even though NEG (red) may turn GREEN signaling upmove and coupled with stochastic which is NEG but near POS, may paint a picture of strength.
Strategy BUY @ 18.7200-18.7800 for a move to 19.07 profit objective. On break re-instate and take profit @ 19.4500. Stop-loss below 18.2700 for now (financial stop).
USDZAR-NEUTRAL The move lower worked out well, and we are no near the bottom end of the channel.
The profit order could be closed here, and not lower as I suggested before.
I prefer neutral stance right now, but am keeping in mind that we are leaning towards buying side now. will update you once I feel more confident about it.
BUY USDZARUSDZAR saw a strong surge of bearish movement this past week, which almost had me thinking price would crash to 17 points. Let us keep in mind that the overall trend for this pair is bullish. Here we observe that price is rejecting local support 18.4. H4 structure is not clear at the moment but from my experience, I predict a bullish flag which will break out using a double bottom to the upside 21+ points. For now, let us take profit at local resistance 18.7.
SELL USDZARPrice Action reached a strong supply zone of 2020 hence a strong rejection potrayed by the daily candle. We expect some type consolidation followed by a southward move since we are in a down trend. Trade wisely by managing your risk, good trading day ahead.
USD/ZAR BUY(LONG) TRADE IDEALooking to take Long positions as the previously formed Daily Demand Zone is currently being retested; further confirming a continuation of the Bullish rally at play.
Keep shorting I have a short position here and that the trade here is pretty much straightforward. Also the MACD histogram has turned negative and given us bearish convergence with price action.
USDZAR ForecastThe impulse phase is complete we can expect a correction pattern to occur. The wave (5) was a nice Ending Diagonal Pattern which is often followed by a sharp reversal.
We can expect the correction to trade around 50 to 61.8 Fibonacci retracement level, it can never be 100% of the impulse wave.
USDZAR-SELL strategy Daily chartThe pair has lot's of downside potential based on GANN protection @ 19.0750, and GOLD price increase, plus negative RSI and stochastic.
Strategy SELL @ 18.9350-19.0250 and place stop-loss above 19.1500 for now. Profit order @ 18.3750.
USDZAR BULLISH ORDERFLOW :EXPANSION TO THE UPSIDEGood day once again traders on USDZAR we are trading an expansion to the Upside,If you look at the bottom of the chart you will see that the sellside liquidity was taken out and the market gave us a bullish market shift so we expect the market to shoot up to the Buyside liquidity.as you know, on an a bullish market downclose candles are suppose to keep price from going lower so we will be executing our entries on the bearish OB. risking 0,77% for 5%.GOOODLUCK!!!
Entry:19.04689
SL:18.88690
TP:19.92525
selling opportunitywe might see a termporary sell.
harmonic patterns are the best 90% win.
lets wait and see
USDZAR-SELL strategy 4 Hourlythe pair has a strong rally during my trip overseas. This on the back of a weakening gold price and breaking levels.
Now we are within a wider (GANN) band with downside pressures. We are below 19.3600 and next GANN support is 18.4300 area. The stochastic is in the lower end, and RSI negative too.
I feel we may see little pullback, but is an opportunity to SELL.
Startegy SELL @ 19.1500-19.2500 area and take profit @ 18.6700 for now. Stop loss maybe some where @ 19.3800.
USDZAR - Bullish RectangleIn this chart I've identified a bullish rectangle continuation pattern. I expect the chart to keep going bullish and so I've placed the buy stop above the resistance level and stop loss below the support level. Let's see how this one plays out.
USDZAR has Printed Inverted Cup and Handle PatternUSDZAR has printed Inverted Cup and Handle Chart Pattern on 1HR timeframe. Entry Price along with Stop Loss as well as Profit Targets are clearly marked on the chart. RSI is in sync with the price and no divergence is spotted.
