USD/ZAR 1H Chart: Channel Up The American Dollar is strengthening against the South African Rand in a short-term ascending channel. The pattern started to form two days ago after a sharp appreciation of the Greenback by 1.8%. Since there were no fundamental events that day, the surge most probably was attributed to combined support level set up by the...
Recently a friend was interested in moving a portion of money out of South Africa to Australia. Some news came out about the South African President, Jacob Zuma, firing the respected economy minister. The Rand slipped quite a bit, the individual was concerned that they should have moved the funds out, so I performed an analysis of the Rand trend to validate if it...
UsdZar has stalled on the 4hr support at the 12.80 area. Price is being squeezed between the trendlines. Expecting a break to the upside. A close above the 12.90 - 12.95 area will support my long bias. Target 1 = 13.30 Target 2 = 13.60
Looks like its making lower highs and lower lows. Looking for the final wave down before a corrective structure. R:R ratio is good and this has potential. Also peaked at a nice resistance and we see some divergence on the RSI and a nice crossover on the Stoch.
With dismal GDP recently announced and a possible downgrade coming VERY SOON (rumors), I am long this pair going into the weekend. Stop below 12.50 target 13.40
The weekly graph reflects the perspective of the longer term trends. This is the long term view related to my daily study of the AUDZAR.
Look for a break of structure to complete the a.b.c
The South African Rand seems to gain some traction against the greenback. It's expected that the South African Rand will strengthen to approximately R12/$. There is a possibility of a retracement to the support turned resistance at 13.2000 level which also corresponds with a 50% Fibbonachi retracement level on the 4 hour chart. If it doesn't pull-back, I'll short...
Put this one on your watch lists folks. I'm looking for a downward break to sell if buyers get thwarted.
Far negative net volume level, followed by corrective movement, does it make sense or not? It seems appropriate to close positions or hedge with options time. When the market does not teach his game, it is more likely that we are the ball. www.fxstreet.com
Quite a late entry into a daily bat pattern, which we could gain a few pips on nonetheless. Even if it does stop out we still have a potential movement into a large cypher pattern which could provide a large number of pips.
Falling wedge with 5 hit points, approaching a 6th and final one for a strong breakout. Excellent previous structure support (indicated by the horizontal black line) asking for a rebound into the upside. I think that this falling wedge will accentuate the rebound off the support line. Major bullish divergence on the RSI occurring in the oversold region. ...
It seems the finance minister has been abruptly removed. Replaced with a little known politician. The rand seems to have dropped significantly, more so than reasonable and so I would say its devaluation is overstated. The fundamentals remain the same.
FOREX TRADING SOUTH AFRICA : Hello everybody Errol here, Its been a while since I have posted anything. I have been very busy with trading and backtesting and testing out new strategies so that I can help and get to know more who are interrested in Forex trading South Africa. Here we have a bearish Gartley pattern and with an AB=CD pattern as well as a bearish...