the pair is oversold, but not extreme, and stochastic is not too low as yet. However, I feel with GOLD levels, we should concentrate on GOLD movement, and its heavily overbought, hence we should look for BUY for the pair now.
Strategy BUY @ 18.4350-18.4600 and place SL below 18.3150 (I do not want SL to near now). Profit order @ 18.6850.
The rand has been able to weather the storms of the broad-based stronger dollar thanks to the spike in precious metal prices however the rand did stumble at the back end of last week following the higher-than-expected US CPI print. The critical rates to watch on the USDZAR pair is the 61.8% Fibo rate of 18.97 and the 200-day MA rate of 18.75. I expect the 200-day...
The pair has moved lower, which was logical, but would not have ventured beyond 18.5600 for the reasons stated. now we are much lower, and my view is same as yesterday, we seek BUY entries now in expectation of GOLD correction.
Strategy BUY @ 18.4150-18.4550 and take profit @ 18.6475 now. SL place below 18.3150 as I do not wish to be tricked into it. However, it...
The pair moved as expected, and we reached profit objective and slightly more. For now, I feel we must continue from BUY side due to the expected GOLD and other precious metals corrections. There should be some pullback towards 18.6150 I feel.
Strategy BUY @ 18.6150-18.6500 and take profit @ 18.8750. SL I feel maybe below 18.5150.
The pair did not move lower as yet, and my BUY suggestion never reached. Of course, GOLD is weakening, but remember, we move with the pair ahead of time. This should be of concern, and therefore, we may see a pullback again
The stochastic is high, and shows overbought signs.
Strategy SELL @ 18.8500-18.8800 and place SL above 18.9450. Profit order @ 18.6150.
USDZAR in selling after a breakout from our trendline. With a head & shoulder inside the trend that confirmed the trend reversal we will will gain a few pips with the selling train until the beginning point of the head & shoulder.
Dolla looks like it is gaining strengh this week . based on technical analysis my price action shows a 90%rule that the USDZAR should reach before falling but let's patiently wait for it
The pair is looking a BUY on daily chart, and range for BUY needs careful consideration, using 4-hourly as well. GOLD supports the likely chance for a stronger up move over time.
Stochastic is positive, and judging historical context, we have a chance to test 19.0150 and maybe we reach 19.2500 again.
Strategy BUY between 18.6150-18.7300 I feel. SL below...
This week on USDZAR bulls are having 70% chance of applying enough momentum for then to dominate the trend, since the sentiment have confirmed, we now gonna open pending buy stop orders on the c-re-rentry level as displayed on the chart.
This week on USDZAR bulls were having 100% chance of applying enough momentum for then to dominate the trend, since the sentiment have confirmed, we now gonna close buy orders.
This pair has been long coming we have been on the sell for the longest of time. Price has been heading down for quite sometime now, but our reason for entry is that it broke and retested the trend and the short standing resistance it has created.
I took profit at 18.5650 and did this due to uncertainties of GOLD correction, when it will happen etc.
For now, am side line and consider NEUTRAL stance for the pair. However, noting we are going negative stochastic, and there is a possibility to move lower to test 18.5150 and maybe even 18.4350. I am not pushing it am careful and prudent.
Will update once I...
This pair is very tricky at this point as it rests on trend line. Many traders anticipate a breakout toward 17.5 but before that can happen, we believe sell will only be activated at 19.6. Let's buy and hold. The chart is self-explanatory.
The pair has moved through the 18.7000 area and that is why we moved little further down. that is why we keep SL for such situations, and it got triggered.
Now we are still below 18.7000 and we are in low stochastic areas, suggesting we are oversold. the key is GOLD of course, and when GOLD correction idea is right, this pair will move back 19.0500 area....
With the help of stronger commodity prices, the local unit is weathering the volatility storms ahead of the local elections. The rand has been able to keep the USDZAR pair below the critical rate of 18.97 which has allowed the rand to pull the pair below the 200-day MA support of 18.75, despite the broad-based dollar strength.
The pair however remains trapped in...
Price seems to be sitting on the support for the completion of the "symmetrical triangle" ... If the price breaks out of the Top-side we could expect higher highs ...
I aborted the pair near 18.6900 as it starts looking tired for now. The stochastic is starting to look negative (not as yet) but it feels it will and besides GOLD is higher again, even though over bought heavily, we should consider the likely event of a test of 18.5500. For now am a careful SELL or stay neutral at current conditions. I would certainly be buyer...
