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.
ZARUSD trade ideas
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.
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 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
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.
USD/ZAR upside to R21.72 after a resistance breakout Rev C&H has formed on the USD/ZAR.
If we get a slight retracement back it could be forming a Right shoulder to an Inv H&S.
Regardless, this looks bearish for the ZAR and bullish for the USD.
Other indicators are showing upside to come for the greenback.
7>21>200
RSI>50
Target 1 will be R21.72. Ouch for the rand.
The government and load shedding is really messing with the economy of this beautiful country of opportunities and diversification.
Trip to the 19.30'sIt wasn’t smooth sailing for the rand last week after the local unit depreciated by roughly 3.00%. The USDZAR pair is forming a 5-wave impulse pattern which could see the rand slide further towards the 19.30’s. The MACD is holding a buy signal and the RSI still has room to move higher before hitting overbought zones. A break below 18.66 will however invalidate the idea.
USDZAR
The South African rand was weaker in early trade on Thursday, ahead of U.S. jobless claims data that could give hints at future interest rate hikes by the Federal Reserve.
At 0608 GMT, the rand traded at 18.3800 against the dollar , around 0.33% weaker than its previous close.
The dollar last traded at 102.080 - around 0.06% stronger - against a basket of global currencies.
"(The dollar/rand exchange rate) is strongly biased downwards this morning but has struggled to gain any momentum and the multi-week trend still looks like it is over," said Rand Merchant Bank analysts in a research note.
USDZAR ShortHi traders, as you can see this pair is most likely to change trend to the downwards. We are expecting a 3rd touch at the filled zone with liquidity grab. Make sure to to do a top down analysis for a better view and understanding of how price behaved and likely to playout. What do you think?
USDZAR BEARISH ORDER FLOWGood day traders on USDZAR as you can see the market broke the sellside liquidity and gave us a bullish market shift, then market shot up into our OB+GZ so our reason of entry here is that we think the market might tank down because it tapped into our OB+GZ and it is in premium ontop of that the market gave a BMS and did not come down to respect the FVG inside our range so that is were we will looking for price to return to
ENTRY:18.96119
SL:19.01422
TP1:18.78666
TP2:18.66116