USDZAR is approaching our first support at 6.7169 (horizontal swing low support, 61.8%, 100% Fibonacci extension, 23.6% fibonacci retracement) where a strong bounce might occur pushing price up to its resistance at 6.8762 (horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement). Stochastic (21,5,3) is also approaching support and we...
This is a nice downtrend on USDZAR showing a potential closed triangle pattern. ZAR is gaining strength driven by the R290 Billion investment acquired by the president of South Africa.
USDZAR is approaching our first resistance at 6.8550 (horizontal overlap resistance, 23.6% fibonacci retracement) where a strong drop might occur pushing price down to our major support at 6.7253 (horizontal pullback support, 100%, 61.8% fibonacci extension, 23.6% fibonacci retracement). Stochastic (34,5,3) is also approaching resistance and we might see a...
Key levels to look out for, please refer to 4 hour chart for strategic view!
Classic Head & Shoulder Pattern Wait for the neckline to be broken, a candle must close with the neck line broken - that's the signal candle. Share your thoughts!
Sometimes it's fun to get a little bit wet, don't you think so too!
Price target is as shown. I will wait for the neckline to break. Most emerging market currencies are set to win value against the dollar.
USDZAR look interesting. If the count is correct, we might go down to 12.80
Looking at this exotic pair, I believe it has the potential to go bearish but that will depend on whether the retest goes our way. I believe that this trade will become bearish. Your Stop Loss should be set just above your recent high at 14.74 with your first Take Profit set at your first resistance/support line - 14.11 PLEASE FOLLOW AND LIKE MY IDEA, ALSO CHECK...
Trend line break, pullback, continuation. Bounce off the 61.8% fib retracement. 14.2 is key price level.. This idea is for demonstration and educational purposes only. Trade at your own risk
If trend holds, after the "double top" we have just seen at 19:45 GMT+2, we could see a NICE drop down to 14.00200. PLEASE LET ME KNOW WHAT YOU THINK? Whatsapp: +27 78 864 5409
Hi Guys, We broke down the daily uptrend today on USDZAR after another failed and shortlived rally passed that briefly passed R14.75 and R15.00 with big sellers coming in again to drive the price under R14.75. We broke under the uptrend today and sitting at a support level stable for now. A break below R14.50 and sellers should enter with some support at R14.40...
USD/ZAR is becoming my favorite pair. This pair has shown to be overall bearish on the daily and weekly. Multiple bearish pennants on the smaller time frame; possible elliot wave formation. ABCDE, then boom! Love how this pair moves, especially as the dollar weakens. Not by any means suggesting you hop in this trade but for study purposes only..although I have...
USD/ZAR analysis using ghost feed. Took previous price action around before last major swing high to swing low as an idea for future price action. Trade idea based upon previous market structure which is following the most recent trend. The market tends to repeat itself at times; trade idea also reflects that if this plays out, price is contained in downward...
USD/ZAR price is following along a descending channel on the week and day chart. Looking for price to retrace back to the 23.6% or 38.2% key fib area before extending to lower price around 12.73, which is a key price level. Price could also pull back to the top of the channel, and thus form a head and shoulders before moving back to lower levels. Place stop loss...