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SOUTH AFRICAN RAND / U.S. DOLLAR

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ZARUSD trade ideas

Bearish drop?USD/ZAR is reacting the pivot and could drop to the 1st support. Pivot: 18.3261 1st Support: 18.0580 1st Resistance: 18.4657 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
USDZAR-NEUTRAL RANGE - BUY strategy 6 hourly chartThe pressure is still on, and as indicated on the Kagi chart yesterday, I observed the potential for much lower levels due to the possible S/H/S pattern. The regression channel as ample room lower towards 18.0900 area, but the key is how we manage the 18.2900 area (confirmed break or not). we are oversold but not extreme. Strategy BUY @ 18.2750 - 18.3000 area but keep very tight stop, as the chances are we may go lower. If indeed we hold this area profit area should be around 18.4450 for now. Play range 18.2750 - 18.4950 for now until broken below 18.2900.
by peterbokma
Bullish bounce?USD/ZAR has bounced off the pivot and could bounce to the 1st resistance. Pivot: 18.5736 1st Support: 18.4387 1st Resistance: 18.8136 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
ECB rate decision and US NFPs awaits the ailing rand Since my previous idea on the ZAR the SA budget speech ended in shambles after a failed attempt to increase VAT for 15% to 17% and the latest SA CPI figure crept higher to 3.2% in January. In terms of international relations, the vibe between the US and SA has continued sour which also does not bode well for the ailing rand. The above-mentioned factors strengthened the support rate at 18.30 and the pair has climbed back above the 50-day MA at 18.59. A host of strong data prints from the US and a bounce in the DXY also did not do the rand any favors at the back end of last week. The headlining events for this week is the ECB interest rate meeting and the NFPs for February. Market expectations are for the ECB to cut rates from 2.9% to 2.65%. The ECB has held a more dovish stance than the Fed since the rate cutting cycle began and if it’s more of the same on Thursday, I expect the DXY to find strong footing which will not be rand positive. Additionally, a strong NFP print will also support a stronger dollar. Technically the pair does seem to be overbought on shorter timeframes however on the daily the RSI does have room to move higher which could allow the rand to slip further towards the psychological resistance at 19.00 if the above-mentioned events play out against the rand’s favor. A failed break below the 50-day MA will be the first indicator that the rand’s early year recovery has hit the wall, paving the way for a re-test of 19.00.
Long
by Goose96
USDZAR-NEUTRAL SELL 90MIN chartThe pair is locked in within a tight range, and also within a wider range, that lies between 18.1350 and 18.6000. The 6 hourly is somewhat positive as a note, but the shorter time frames show potential pressure downward. I am non committed as i do not see the need, as it is not very clear picture. However, my viewpoint is of a slightly weaker pair in coming sessions. Strategy SELL near 18.3850 - 18.4350 range and take profit near 18.2750 for now. Near the lower end of the channel, BUY strategies may be the way to go.
by peterbokma
2
USDZAR-NEUTRAL BUY strategy 3 hourly chartThe regression channel has ample room either way, and we are close to support level 18.3000 and a break below suggest 18.1100 direction. The overall view is still a chance for higher levels, but 18.4675 needs to be challenged to see 18.5850 again. For the reasons stated am NEUTRAL with buying bias. I wish to add we are completing also (b) wave and it seems not clear as yet on its completion. Strategy BUY 18.3150 - 18.3450 and take profit @ 18.5350 (but watch if we break the resistances mentioned). I never state SL levels, as this is individual decision, and of course we are in need of a proper risk management and leverage strategy to ensure we become or remain profitable.
by peterbokma
3
USD/ZAR Buying Opportunity🔹 Entry Zone: Around 18.307 🔹 Take Profit 1: 18.354 🔹 Take Profit 2: 18.390 🔹 Take Profit 3: 18.439 🔹 Stop Loss: Below 18.266 Analysis: USD/ZAR is currently sitting at a strong support level, where price has previously bounced multiple times. This area has shown buying interest, indicating a potential reversal. 🔹 The RSI is oversold, suggesting possible bullish momentum ahead. 🔹 Price is forming a double bottom structure, which often signals a trend reversal. 🔹 If buyers step in at this level, we could see a move towards the next key resistance zones at 18.39 and 18.44. As always, risk management is key—watch for confirmations before entering!
Long
by Charts_M7M