Usd/Zar just finished its correction on the 1 hour time frame Usd/Zar is at a all time high and has a double top reversal pattern on the daily time frame This Reversal Pattern on the 1 hour time frame is called the Head and Shoulders Reversal Pattern We can wait for the sell signal and sell
Short from the red trend or from green zones. Believe in short trend.
Background (a quick look back): The rand's covid recovery, on the back of the Fed’s QE infinity policy and a strong commodities rally, ended in June 2021 after the rand managed to pull the pair to a low of 13.40. The rand got hit by a quick one-two in the middle of 2021 as the DXY found support around 90.00 and the local riots in July which saw the local unit...
We posted this trade alert around 24 April saying, we have bad news for the South African rand. The trade is still on track to the first target at R19.80. Once it surpasses, it'll need to consolidate move in a sideways range before the next breakout. Hopefully, it won't be up again. But anyways, the demand is strong for the USD against the ZAR and we can do...
The ZAR (South African rand) has come up on the radar as sellers have dominated and a true buyers strike ensues. We’re seeing longer-dated South African govt bonds sell off aggressively, with yields on 25yr government debt rising above 12.5% and the highest levels since 2020. The energy shortage continues to take a toll on economics and talk of increasing...
Hi All. I am a student of the art and my idea's should not be traded. This is how I see this pair behaving. Enjoy good luck
UsdZar has a reversal pattern on the weekly and monthly chart. Usd/Zar is currently rejecting this reaistance on early time frames. I am selling now with a small position that I will hold for a few weeks.
Looks like it won't stay long. All time High with a possible short term Bearish.
Support at 18.21, which coincides with 50-day MA and 61.8% Fibo is holding support. A failed break below 18.21 will allow the pair to retest the resistance range between 18.48 and 18.55. A break below 18.21 will however see the pair slide back between the support range between 18.00 and 18.10. For a more detailed analysis see the linked idea.
It is guaranteed to be a volatile week given the stacked economic calendar. Tonight, the Fed is expected to hike interest rates by 25bps, and on Friday we have the always highly anticipated US non-farm payroll data. As per my previous idea, I got the timing wrong for my expected move to 18.55 but I’m still holding my buy orders in placed around the 18.21 level...
The pair is currently testing the top of the blue downward channel. A break above 18.40 will allow for a move higher north of 18.50 while a break below 18.21 will invalidate this move higher. I’m personally positioning myself for more rand weakness and a move north of 18.50 given the current risk-off back drop. My strategy is to place buy limit orders around the...
🔸Hello guys, let's review the 8 hour chart for USDZAR today. Speculative C&H setup in progress. right now pullback/correction mode until mid may 2023. 🔸Price fractal is defined by cup structure (completed already), and the handle pattern. handle pullback/correction in progress now. will complete later near 17.80. 🔸Recommended strategy for USDZAR bulls. Buy/hold...
The support level of 18.01 held its ground last week and the rand has been on the backfoot so far this week. The pair climbed to a high of 18.33 (the support turned resistance on the 23.6% Fibo level) on Monday. Although the rand managed to pull the pair lower onto the 50% Fibo level at 18.11, I believe there is further losses on the cards for the rand as the week...
HELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GREAT WEEKEND. HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT ON THE DOLLAR/ ZAR IN THE COMING WEEK. USD/ZAR CLOSED LAST WEEK WITH SOME STRONG MOMENTUM TOWARDS THE DOWNSIDE SIGNALLING SO MOMENTUM SHIFT LEAVING BEHIND BEARISH FVG. * We have swept previous week high and multiple day candle rejections at...
Yesterday’s pullback was a bit deeper than expected following the US initial jobless claims result. The US jobless claims came in higher than expected and coupled with the lower-than-expected US CPI results from earlier this week, markets are betting on a Fed rate pause sooner than initially anticipated. My record of trying to predict the Fed has been poor so I’ll...
The USDZAR pair completed an ABC corrective wave at the end of March after the higher-than-expected 50bps rate hike from the SARB allowed the rand to pull the pair into the support range between the 50%- and 38.2% Fibo retracement rates at 17.68 and 17.92, respectively. Since the start of April, the dollar (DXY) has found some support in the range between 101.36...
usdzar reached strong zone and i hope perform its role RR: 1:6 Entry:18.46 Target:17.51
With the global economy showing more resilience and the Fed slowing its pace of tightening, we believe EM currencies can outperform relative to G10 peer currencies this year. Attractive real yields should result in market participants accumulating exposure to developing currencies, while our assumption for contained banking sector stresses should lead to improved...