I am back home again from travels, and it seems the pair remains locked in within a range. BUY side works little bit and so does the SELL side. Looking at GOLD recovery and negative stochastic it is safe to short instead of long, at least that is what it feels like. For now SELL @ 18.6500 and place SL above 18.7100 and take profit @ 18.3350.
Looking at the USD/ZAR on the Daily timeframe , the Market has been retracing from the previous weeks Low , we will be looking for a retracement to retest the recently formed Daily Demand Zone , which also confluences with the retest of the inner 1hr/4hr Demand Zone , we will take into consideration the movement of Gold and also the movement of DXY , on USD/ZAR...
The pair has difficulty moving lower, and GOLD has declined a bit as well. The stochastic starts turning positive, so am expecting a spike to 18.9500 testing 19.0000 maybe. It is difficult to say, but best chance is upwards I feel. I am traveling so non committal right now. Strategy BUY @ 18.7000-18.7350 and place SL below 18.6000 and take profit @ 18.9675.
Sought Africans need to understand regardless of which color they are, if they can not stop the hatred versus the white people or vise versa. Given the economic hardship ahead of us that form of state will eventually collapse sooner than later. The global situation we are in is like little fires everywhere, I will start with Turkey to collapse first followed by...
USDZAR some interesting developments for the Rand bulls. 50dma < 200dma (death cross). 3 lower highs forming what could be a potential flat bottom triangle with the base at 18.10-18.20. Some bullish characteristics here which could be shifting sentiment in favour of the bulls but it's still too early too call. Range bound between 18.95 and 18.20 now. A convincing...
Hello Everyone. Descending channel 💲 Entry Point : 18.60968 ...
It feels the tide is turning, and this negates the previous update with SELL idea in the 18.7150-18.7800 area. Now I feel we should be expecting higher levels, as we have broken GANN resistance 18.7800 area and a slightly positive stochastic. Gold lower also helps to see higher levels. Once we have reached higher, we start SELL again. Now a moment of BUY is my...
Break and retest of 18.7000 level as resistance, targets could extend up to 19.0000
A clear bullish move is in set for USD/ZAR in order to fill that massive imbalance on the left side. Wanting to enter off strong demand zone where we can see price react off of and consolidate in the past. Watch out for the liquidity depicted by the arrow. Only enter if there is a slow move to entry otherwise price may want to first capture that...
This is an active trade, entry should be from that bearish breaker block , we wait for price at higher time frame point of interest below 👇🏽
A possible sellers inducement triggering more sellers that trade breakouts/ early sellers , so my view is we wait until the fake out plays out to the upside inducing more buyers and we wait for a better entry but after a confirmation of a SHORT on a LTF for a long term bear market... maybe ZAR might melt down to a 15.00000 W1 TMF
The pair did move higher as expected, the fun would be if one managed to get long of course. Now we are at the higher end again, and it feels we may start toppling a bit coupled with stable GOLD likely to settle where it currently is now. Stochastic is negative as well and helps to idea. Strategy SELL @ 18.7250-18.7800 and place SL above 18.8950. Profit order @...
two days of holding this trade. hit tp earlier good trade
The pair has moved sharp upwards again, and this on the basis of stronger USD and also weaker GOLD price. On my last update I was neutral, as there is no clarity, and same as now, it is not picture clear. However, there may be more upside potential due to the fact we have broken triangle resistance. I am not keen personally to venture this moment anything, and my...
Hey Traders, USDZAR Pair is on the downward trend, based on the 4HR Timeframe and confirmation of 61.8% Fibb Retracement is within the Golden Sell Zone, will wait for reversal candle and then we enter, Enjoy your Profit.
am hoping to see a drop on the currency pare because of the strength of ZAR compare to USD
In April 2022, major institutions sold the Rand off when it was trading around R14.40 ~ R14.80 against the US Dollar. Price proceeded to print a steep rising channel capping off close to R19.92 with a shooting star and a beautiful bearish engulfing candle that closed the first week of June 2023 below R18.70. This was an indication that Rand buyers that were...
The pair has declined sharply, and we have a hammer bottom. the stochastic is negative and has more room to move lower. We are well protected @ 18.5600 resistance and likely we will attract 18.0500 short-term. I prefer NEUTRAL stance, since selling here may not be beneficial on possible pullback. If once likes to venture, strategy is SELL above 18.4500 and...