The South African currency has been weakening for years, but it has already tried to break through the support shown in the picture three times. It may be worth placing a short position up to the lower support.
This trade is a success. The EURZAR has rallied over 300 pips since the bounce from the uptrend low. T he pair has hit both take profits @20.60000 and @20.750000. Earlier analysis highlighted the key 21.00000 level as our long term target.
This currency pair was going up respecting market structure but recently we saw the trendline being broken and lower structure points started to appear. An increase in volume could make price go lower quite agressively...
Selling only after the break below the HMA and the retest of the liquidity zone **This is just my trading thought process and does not constitute as financial advice. **Please trade with proper risk management*
We maintain a long term bearish approach to this pair. Presently, after a break of structure, we have a corrective move targeting the unmitigated zone at 20.39 price handle. On the 4 hour time frame, we have a change of character and internal break that informs our buy position at 19.9
This analysis hurts my pocket. Travelling around and living in Europe means we pay in Euros. Hotels, flights, costs, etc... And I unpleasantly am doing an analysis showing how the Euro looks like more upside is to come. It's this kind of analysis I really hope I am 100% wrong. Anyway, upside is to come bease on the Reverse Cup and Handle. The price...
Since last week, EURZAR has been in a strong uptrend from the 19.40000 level. Recently, we have broken out of the descending channel that was maintening it inside a bearish structure. What we are seeing now in my opinion in simply a re-test of the 20.6500 level that was a resistance and is about to turn into a support to continue higher up to 21.3000 probably next week.
EURZAR has rejected a resistance at around 20.40 and has created a double top, creating a faekout. The pair has failed to create higher market structure and a loss of momentum next week would make price fall.
EURZAR has been in a bearish market structure for the past few days. The pair created lower than previous highs and lower than previous lows confirming the trend all the way. Right now we have been testing a key support which if broken will accelerate the new bearish leg. More details in the video...
Cup and Handle has formed over the last few months with EUR/ZAR. We got a break down below R19.65. Now it looks like there is further downside to come for the EUR which is good for the rand. 21>7 Price >200 RSI<50 Target R17.32 The big warning technically is that the EUR/ZAR is flirting with the 200MA. Until the price breaks down, then I'll feel more...
Starting with the price structure, EUR/ZAR has been forming a series of higher highs and higher lows, indicating an uptrend in progress. This pattern suggests that buyers have been gaining strength, consistently pushing the price higher after each pullback. This type of price action often reflects a shift in market sentiment towards bullishness. Adding to the...
EURZAR is currently in a Weekly order block. We have vector candles showing a decisive three pushes to the current low. RSi and TDI should read lows and Shark Fins in this region. Look for a Head and shoulder pattern to enter long toward the 70.7Fib retracement of the XC leg. Usually pattern failure may occur around the Fib level around the 19.5100 level. If...
A bearish Cypher on the Weekly timeframe is near completion. Price is currently within a Weekly order block and we will most likely see a lot of trapping behavior in this region. This area is arrived at after a very long bullish trend and so as a result we will most likely find a build-up of both institutional volume as well as day-trader volumes. On the daily...
shorting eurzar when it breaks the wedge with a clean nice break.
forming Ascending Channel In daily Tf And Got Rejected From Channel Resistance Rsi Printed Bearish Dirvergence Wait For Macd Crossover To Enter Expecting Lower Channel Line To Be tested Incase Of Breakout Will Crash Further
There's a bull flag that has recently formed which has broken out strongly and now looks like the first target will be heading to R19.19. Not great for the rand but luckily we can go long the Euro to make up for it.