monitor how the market broke out off the trend channel , now retesting the support of the trend channel
We have been waiting for the pull back entry and the time is now looking going long is the only way now the buyers are in no second guessing here we go
$ weakness due to lower inflation figures has led to a bear flag break on FX:USDZAR The target price for this break is 17,63 US economic soft landing in progress, and that is good for stocks
USDZAR is looking to reverse. It has clearly slowed its downwards movement and is looking to reverse up top to potentially continue its down movement. This was signified through its break of structure on the 4H chart. As shown on the 15 minute chart it has broken structure. The only worrying part is that it is returning back to break even. However this has the...
Potential Sell on USDZAR, Downtrend and rejection from 18.144 zone. Could expect further downside. SL: 18.19 TP1 : 17.898 TP2: 17.77 TP3 : 17.698
Right off the bat, I normally get short analyses wrong with USD/ZAR. But the system is the system, so I have to keep to the rules. Since the trade hit my first target at R18.90, it's been forming an Inverse Cup and Handle. Now the price has broken below, which means the USD is likely to weaken from here. The indicators however are conflicted. 7>21 (about to...
we noticed that the market respects the area of value , we monitoring the reacts and weather the market will break above the trend channel if the market breaks out of the trend channel the bullish bias will be confirmed
USDZAR | 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...
Some phenomenal strength against the USD after almost touching the 20.00 mark. Particularly interesting is how the pair barely managed to put up a fight at the important 18.50-18.60 level which was very strong resistance before the breakthrough. This bodes well for the zar but next up we have the 200day ma at around 17.90-18.00 which has been rather sticky in the...
View On USDZAR (6 June 2023) USDZAR is in * Down in short term (Intraweek) * UPtrend in Mid term (Intramonth) * UPtrend in Long term (Last 3 months) USDZAR is in the strong up trend in recent months/year and it shall be about to change for now. I am expecting some pull back in USDZAR and it might be better to stay in the Short side for a while. 18.2~18.5...
Back in January I predicted that the USDZAR pair will climb to the 2020 high of 19.35 if the rand fails to hold the pair below the critical support rate of 16.80. We’ve seen this move play out, and then some, which saw the rand slide to an all-time low of 19.90 this week as the pair completed its 5th major impulse wave. Now it’s time to look at what lies ahead for...
The rand has now posted convincing gains in the past three sessions off the back of an increase in global investor risk appetite following a strong US NFP’s print on Friday and the conclusion of the US debt ceiling debacle. An ABC corrective pattern seems to be the most likely move for the pair at the moment as per my previous idea linked below. The rand has...
Since the USD/ZAR hit my target price at R19.80. It's been retracting a bit. It weakened fast and furious. And now we can expect a bit of a retracement before the USD continues to strengthen. I truly hope the USD/ZAR continues to weaken so the rand can strengthen more... It's embarrassing seeing the rand at levels above R19 in the US, UK, Swiss etc......
It was written in the charts. The USD ZAR formed the Symmetrical Triangle on the daily. The price consolidated and squeezed until it reached the Apex. Then because the prior trend was up, the breakout was up and lead to a continuation in the trend. The price then went to a dire R19.80! Let's hope it forms a Buy Side Liquidity order block for Smart Money...
USDZAR is still trading inside this channel and making higher market structure. Today, we have found support above our last high which signals a potential trend continuation...
In this different trading idea, we want to bring attention to a potential shift in the USD/ZAR currency pair that goes against popular belief. Despite widespread negativity, we see a chance for the South African Rand (ZAR) to gain strength against the US Dollar (USD). While USD/ZAR has been bullish (going up) for a while, there are signs that things could...
USDZAR as we can see that it recently broke a crucial level around 18.50xxx during the course of this month creating new highs around 19.5xxxx. Looking to the right we can see the if USDZAR closes above 18.50xxx at the end of May, we can expect USDZAR to push further up to touch 20.50xxx - 20.70xxx before attempting to come back down to settle around 17.5xxxx -...