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SOUTH AFRICAN RAND / U.S. DOLLAR

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ZARUSD trade ideas

USDZAR ShortAn area of interest is seen from the 4H to the daily timeframe. This is the area where retail traders were already taking their short positions with stop losses just above, and a lot of pending buy stops on the same level. What then happens in this area is that the market pushes above that level to hit stop losses and trigger buy stop orders and immediatetly returns below the level. This is a process known as a "liquidity sweep". This process is advantageous for the more patient traders because with the long position opened in order to liquidate the AOI, those orders have to be close in order to move the market lower as everyone expects. These are the levels we enter from.
Short
by Trade_Fanatics
Volatile FOMC and Non-Farm payrolls week aheadIt looks like the pair will complete an A-B-C corrective pattern which could allow the rand to pull the pair onto the blue 50% Fibo rate of 18.22. The navy-blue channel has been broken and the bottom end of the channel now serves as a neckline resistance. This neckline also coincides satisfyingly with the 50-day MA. The failed break above the 50-day MA as well as the resistance rate at 18.97 (the bottom of the previous 4th wave impulse) is rand positive. The pair is now working into a wedge between the 50-day MA and the bottom of the current smaller upward channel. A break below the blue 38.2% Fibo rate at 18.611 will confirm a channel break which will allow the rand to make some gains. The support range to watch is between 18.44 and 18.54 as the rand attempts the move towards 18.22. Technically the daily MACD buy signal is rolling over and it looks set to cross to a sell signal and the RSI also has room to move lower before hitting oversold zones which are both rand positive. Lots of volatility is expected for this week however, Thursday we have the latest FOMC minuets and on Friday it’s non-farm payrolls so keep stop tight for in case the small upward channel holds its ground. Strategy: Place sell limits anywhere above 18.75; take profits zones at 18.45 and 18.25. Longer-term support at 200-day MA (18.00) still looks strong for now.
Short
by Goose96
1
USDZAR | Weekly | UpdateUSDZAR | Weekly Looking to the left on USDZAR based on my initial analysis, we notice that we he had a target for USDZAR at 21.2xxxx - 21.5xxxx after which we saw USDZAR rally all the way up to 19.93xxx creating a new high for the USDZAR we saw it fail to break above our 20.xxxxx psychological level. After failing to break above the 20.xxxxx level we noticed the ZAR “try” to recover it’s losses against the USD creating or current base as after falling from around 19.93xxx we can see the USDZAR finding support at 18.08xxx and bouncing up from there and currently trading above our 18.5xxxx Psychological level at 18.7xxxx. Looking to the right, if USDZAR fails to push down and break our support at 18.08xxx - 17.74xxx we can consider that area as our new base and we can expect the USDZAR to push further up and may potentially break our 20.xxxxx psychological level while still expecting it to head up to 21.2xxxx - 21.5xxxx.
Long
by mosa_moshka
Neutral view atm... The rand closed the week roughly 7 cents weaker against the dollar after sliding to a high of 19.04 against the dollar on Friday. The rand was boosted by the risk-on investor sentiment at the back end of the week which allowed the rand to keep the pair below the imperative 50-day MA rate of 18.82. The pair is however forming an upward channel which could allow the pair to break above the 50-day MA resistance rate. The rand’s moves will be dictated by how market participants digest the data from the US. Technically the MACD indicator is holding a buy signal while the RSI still has room to move before entering overbought zones and a break above the 50-day MA will allow the pair to test the blue 23.6% Fibonacci retracement level of 19.10. On the flip side, a failed break above the 50-day MA will allow the rand to pull the pair on to the support rate of 18.61 and possibly lower towards 18.45. The rand also managed to keep the pair below the black 50% Fibonacci retracement and 50-day MA resistance which is rand positive.
by Goose96
USDZARI expect a Strong ZAR against Dollar in the next few months. Reason: - The USDZAR has given us WXYXZ correction from the past 12 months (June 2022 - June 2023), we can conclude on a complete cycle. (elliot waves) - We can therefore project for an impulse 5 waves down. - We have completed W1 and W2 ( at 50% Fib level), aiming for W3 at 261.8% of W2 Entry: - Apply SMC strategies at lower time frame (Preferably 15 minutesTF) - The South African Governor Mr Kganyago has indicated an undervalued ZAR and a projection of a stronger ZAR in the following months. (Fundamental news)
Short
by MelusiR702
1
#USDZAR - Update The USDZAR failed to reach the R18 level and instead reversed breaking through R18.28 and rallying all the way to the R18.72 level. It has since strengthened today and is now testing the 20 day moving average. It will be key to see how it reacts here as it could signal further weakness this week if it can't get back under it. The 20-day exponential moving average (EMA) is a popular technical analysis tool used by traders to identify trends in the stock market. It is calculated by taking the average price of a security over the past 20 days, with more weight given to the most recent prices. The 20-day EMA is considered an important indicator because it can help traders identify potential buy and sell signals. In summary, the 20-day EMA is an important technical analysis tool that can help traders identify trends and potential buy and sell signals in the stock market.
by Trader-Dan
USDZARUSDZAR refers to the currency pair composed of the United States dollar (USD) and the South African rand (ZAR). The exchange rate between these two currencies represents the value of one currency in terms of the other. Traders, investors, and individuals interested in foreign exchange markets often pay attention to the USDZAR exchange rate due to its economic significance. The USDZAR exchange rate is influenced by various factors, including economic indicators, interest rates, geopolitical events, and market sentiment. Here are some key points to consider: Economic Factors: The economic performance of both the United States and South Africa can impact the USDZAR exchange rate. Factors such as GDP growth, inflation, employment data, and trade balances play a role. For example, if the U.S. economy is strong compared to South Africa's, it may lead to a stronger U.S. dollar relative to the rand. Interest Rates: Central bank policies and interest rate differentials between the U.S. Federal Reserve and the South African Reserve Bank can affect the USDZAR exchange rate. Higher interest rates in the United States may attract foreign investors, leading to an appreciation of the U.S. dollar and a depreciation of the rand. Commodity Prices: South Africa is a major exporter of commodities like gold, platinum, and diamonds. Changes in commodity prices can influence the value of the rand, which, in turn, affects the USDZAR exchange rate. For instance, a rise in gold prices may boost the rand, while a decline could weaken it. Political and Geopolitical Factors: Political stability, government policies, and geopolitical events can impact the exchange rate. Any political uncertainty or economic instability in either country can lead to currency volatility and affect the USDZAR exchange rate. It is important to note that exchange rates are subject to market fluctuations and can change rapidly. Traders and investors who are involved in the foreign exchange market closely monitor exchange rates, employing various strategies to take advantage of potential opportunities. As with any investment or financial decision, it's recommended to conduct thorough research, seek expert advice, and consider multiple factors when dealing with exchange rates or trading currency pairs like USDZAR.
Long
by V_dev