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RAND

USDZAR ShortI like what I see - Will allocate Short on a confirmed break of the blue Trendline. - Volume profile on the Daily suggests price could retrace to +- 12.7-12.57 area. - for the time-being, Fixed Income flows are favourable. - I think the BRICs summit should provide some positive sentiment for USDZAR, who knows, maybe some deals...? Counter arguments: - worried that USDTRY will drag EM complex with it - EM vs `DM carry - will look to yen as a litmus for this theme. - factoring in the above point, we could see a Dollar shortage continue (EM fx will then weaken)
Short
by cgd
USD/ZAR 1H Chart: Descending between Fibonacci linesThe US Dollar continues to lose ground against the South African rand in a large scale descending channel pattern. However, not the pattern, but other aspects are to be noted more importantly. Namely, the fact that the currency exchange rate is respecting the support and resistance of the various Fibonacci retracement levels that can be charted on the currency exchange rate. Moreover, various pivot points play important roles on the chart. Regarding the near term future, whether a surge or decline starts is dependent on whether the 13.31 gets passed to the downside or the upside.
Short
by UnknownUnicorn890690
The South African Rand - An African TeacupUSDZAR goes bullish towards the median line between the previous resistance and support (around the 13.00000 region) . Scenario 1: The momentum is enough to carry the US DOLLAR upwards to the next Fibonacci line around the 13.45000 region, 7000+ pips upwards. Scenario 2: The DOLLAR does not have sufficient strength to break through the median line and instead falls back down, completing the historical "teacup". See my previous USDZAR idea here:
Long
by Chris4XTrading
Eur/ZarEur/Zar has been going down, however, several ways I look at this, it seems like it is going up. Either in a 3 wave to maybe break the high, It could make a large flat, but possibly already completed an expanded correction and we get a larger 5 wave that retraces that long move. The buy entry setup was earlier when I was asleep on 4 hr and we would have stop in profit, so riskier at this height, but I would also like to point out that if EU is going to pull down which it looks like it may, Usd/Zar may be more beneficial. I will post that in a minute. I am up on that one.
Long
by thillygoosth
USD/ZAR Large scale developmentsIt seems that everything previously drawn on the USD/ZAR currency pair’s large scale charts has become obsolete due to the recent fundamental events in the US. Namely, in a recent testimony to the US Congress the head of the FED provided the needed strength to the US Dollar to break long term resistance. Before the even the pair was heading for the lower trend line of a two year pattern. It was occurring in a junior pattern, and the move was about to be completed by the middle of March. However, two smaller scale patterns are still holding and indicate that the pair might trade horizontally throughout March.
by UnknownUnicorn890690
USD/ZAR 4H Chart: Started appreciating The US Dollar Continued to appreciate against the South African Rand after it reached the dotted support line near the 11.80 level on January 23. After testing the 50.00% Fibonacci retracement level, the pair started moving back in the opposite direction. This retracement can be measured by connecting the high at 12.55 and the low at 11.80. The pair are stranded between the upper boundary of the dotted line and the 100—hour simple moving average at the time of the analysis. Everything being equal, the USD/ZAR pair is likely to retrace south to test the weekly pivot point at the 12.00 mark.
Short
by UnknownUnicorn890690
USD/ZAR 4H Chart: Breaking massive patternThe US Dollar recently plummeted against the South African Rand. From a technical perspective the reason for the fall was the encountering of a Fibonacci retracement level, which is measured by connecting the high and low levels of the last decade. However, that move was not as surprising as the fact that the following decline broke the support of a massive scale channel up pattern, which represented the pair’s rebound of 2017. In regards to what the traders want to know, the pair is set to trade between two levels in the near future until it breaks to the downside and begins an approach of the 2017 low level at 12.32.
Short
by UnknownUnicorn890690
ZAR/JPY 4H Chart: Climbs towards 8.40ZAR/JPY 4H Chart: Climbs towards 8.40 The South African Rand is actively appreciating against the Japanese Yen in a one-month long ascending channel. The pattern represents a part of a larger falling wedge formation. Accordingly, the surge is expected to continue. This assumption is supported by the rising 55-, 100- and 200-period SMAs that are moving along the lower trend-line of the channel. In addition to that, 51% of traders are bullish on the given currency pair. On the other hand, there are two alleged resistance levels located at the 8.395 and 8.456 marks that might not only halt the surge but also lead to premature turnaround. However, this scenario is unlikely to materialize without some relevant fundamental event that would to spike a demand for safe haven asset.
by UnknownUnicorn890690
USD/ZAR 4H Chart: Reaches Dominant ResistanceAlthough the USD/ZAR pair is not that popular due to low volumes and fundamental moves, a review of the pair needs to be done due to a recent rebound against a dominant resistance level. The pair recently bounced off the combined resistance of a long term channel up pattern, monthly R2 and weekly R3 near the 14.30 mark. As a result of the meeting of the resistance level the pair has begun to decline down to the 14.04 level, where the weekly R2 is located at. Most likely that level will be reached and a short term rebound will reveal the most junior pattern. Meanwhile, one should take into account that there is still active the support line, which forced the rate higher during the last week.
Short
by UnknownUnicorn890690
USD/ZAR 1D Chart: Symmetrical TriangleUSD/ZAR 1D Chart: Symmetrical Triangle The American Dollar is trading against the South African Rand in a symmetrical triangle pattern that started to form after a 12% appreciation of the buck in the end of May. At the moment, the figure consists only of five confirmation points, which means that the current formation might sustain up until October. On the other hand, the July’s fail to reach the lower support line allows redrawing boundaries of the pattern. In that alternative case a breakout might happen already by the end of August. Most probably, the currency rate is going to choose a southern direction, as the opposite side is reliably secured by the 200-day SMA. Moreover, such course would allow the pair to continue to fluctuate within the senior formation.
by UnknownUnicorn890690
USD/ZAR 1H Chart: Channel UpUSD/ZAR 1H Chart: Channel Up The American Dollar is strengthening against the South African Rand in a short-term ascending channel. The pattern started to form two days ago after a sharp appreciation of the Greenback by 1.8%. Since there were no fundamental events that day, the surge most probably was attributed to combined support level set up by the 55-, 100- and 200-hour SMAs as well as the weekly PP at 12.9962. At the moment, the currency exchange rate is approaching the channel’s bottom boundary that is backed up by the weekly R2 at 13.2383 and the monthly PP at 13.2254. The pair is expected to make a rebound and resume the surge with the ultimate goal to reach the weekly R3 located at the 13.3730.
by UnknownUnicorn890690
Study of the movement of the South African Rand long term trendRecently a friend was interested in moving a portion of money out of South Africa to Australia. Some news came out about the South African President, Jacob Zuma, firing the respected economy minister. The Rand slipped quite a bit, the individual was concerned that they should have moved the funds out, so I performed an analysis of the Rand trend to validate if it was a good reason to sell. This is a long term study with a roughly 2 year window. I have made this study as an update to confirm my earlier analysis. I saw a channel had formed and advised not to sell the Rand as it had not broken the long term price channel and trend, at least as I saw it. My analysis was correct and the individual held on to their money. The price has since moved back into the trend. In conclusion; I stated that as long as the price remained within the trend it was worthwhile holding onto the South African Rand. If the price breaks out the upper orange trend line then selling of the rand might be advised as the long term trend had a higher probability of breaking. On the other hand if the price fell significantly below the bottom trend line profits could be booked, depending on circumstances. Ultimately holding on could also be an option as this is a long term analysis.
Short
by Quadricolor