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Southafricanrand

USDZAR - UpdatedCurrently forming the B wave of the Final Y wave of our correction. Expecting a spike up to 13.85 then a slow bleed to 13.43 to test support before an expansive move up to 14.10 or so. We should see a nice drop towards the second half of the year into the 12.60 Area. A little bit of sideways movement / accumulation then the final leg up to test the previous high around 15.60ish. Expecting a massive move down to sub R12.00 after that to complete the giant Flat correction currently in play
by TCMTrader1
USDZAR: Buy call on Inverse Head & Shoulders.The pair has formed an Inverse Head and Shoulders on 1D with the neutral ADX - 34.570, Williams = -52.239, CCI = -21.3641, Highs/Lows = 0.0000 indicating the sideways bias for the next 5 sessions during the creation of the right shoulder. 4H (RSI = 46.340) also calls for sideways trading within the 13.77 - 13.98 neckline, so we are taking a long with TP = 13.9600. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope
USDZAR: The long term bearish outlook.This pair is on a recurring bearish pattern sequence on the long term 1W chart. This mix includes a parabolic rise, which when it reaches a top, it develops a Channel Down on 1D (RSI = 37.566, Highs/Lows = -0.3871, BBP = -0.4893). This Channel Down is currently targeting 13.27600 and 12.800 in extension. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
Who's buying ZAR?=> Here we are expecting dollar strength to remain in the spotlight and EM to come under further pressure one more time before year end. => Although there has been some improvement on the political side in South Africa the foreign positioning in SAGB's remains heavy. => Yields are rising in the US as we widely expected since earlier in the yearend we see South Africa as very vulnerable in this climate as "smart money" will sell ZAR to hedge out of exposure. => Good luck all
Long
by ridethepig
Dollar remains in charge against ZAR=> Here we are positioning to the buy side and fading the recent strength from ZAR. => For all of those following our portfolio on Tradingview you will have noticed us tracking a rebound across some parts of the EM spectrum, South Africa is not one. => Timing wise... CPI data on Wednesday will come in slightly lower than expected but still remaining way above target. Growth is looking poor as the economy remains in technical recession and SARB will likely keep rates on hold. => Even if the SARB decide to jawbone a hawkish rhetoric we don't see this a a market moving event, the problem is far deeper than that here. Repatriation of land forces your currency in one direction. => A risk to our thesis is geared towards the long end of the curve via weak growth.... => Good luck all
Long
by ridethepig
Pain likely to continue=> Confirming a break of the channel earlier in the quarter we are seeing the knife really being stuck in here. A test of the highs seems only a matter of when, rather than if. => Our previous ZARJPY trade (see related ideas) was a flawless 7% move via the combo of S.Africa slipping into technical recession and the loss of investor confidence via protectionism.(edited) => Some mild profit taking has gone on this week after pealing the first resistance layer. Eventually this will take the 16.00 handle and banks will start reacting badly. For those trading the ST we will also be uploading a daily chart of this pair. => Good luck
by ridethepig