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USD-ZAR

Large Correction For More UpsideUSDZAR is currently forming a larger correction that I initially anticipated. This means that the correction that I had looked at before as being a 3 wave correction, was actually only wave 1 of the larger correction. Looking at the current setup, I expect price to break the low of wave one, market with the red line, before there is a reversal to the upside. I will be looking to enter the long when a reversal confirms but may look for smaller trades to the downside in the interim as well. Happy trading! Linton White JP Markets South Africa
by Linton_White
Short Setup on USD/ZAR by ThinkingAntsOkMain items we see on the chart: a) Price has broken a Wedge formation b) After the break out, the price formed a pennant pattern c) Pennant patterns are considered continuation structures d) If the price breaks down the pennant pattern we will use Fibonacci retracement levels, to define our TP1 and TP2 Based on the previous items, if price breaks down below 14.18 we expect a continuation of the bearish movement towards first Fibo “1.272” and then to the second Fibo level “1.618” at 13.75500 Daily vision:
Short
by ThinkingAntsOk
1
PULL YOUR PANTS DOWNWe can see marked out on the chart a strong area or support and resistance, we are expecting price to make its way into this zone and when it does we will be looking for a buy... Patients is key in trading and if you don't have any the markets will pull your pants down and shove a rather large hard object somewhere that might hurt. In this game if you rush into trades you might as well just burn your money ( or give it to me as burning really is wasting it ) my bank details can be provided on request ;p Just remember not to chase trades and instead let them chase you... a little bit like playing kiss chase as a kid, you didn't want to chase the ugly kids ( bad trades ) but if the good lucking kid ( good trade setup ) came after you then you would suddenly forget how to run and take the kiss ( pips/ money ) like a trooper haha. I know I have an unorthodox way of explaining trades and setups, but I'm just trying to make things more fun, so I hope you like them :) If you like my style then drop a comment in the comment section and let me know.
Short
by ApexFX_Pro
USDZAR Bearish wedge inside of bearish wedgeLooks like a potential very nice setup here. With the big wedge on the left and the low time frame one on the right. So i am going to follow this one closely, to see if we find some resistance at the high while staying below the red zone. Because this one has long term potential, i am going to build up a pos here. So starting small and building it up on the way down after real confirmation. Past 2 trades on this pair played out perfect, following basic TA better than others. So with some patience this one could work out greatly as well. Previous analysis:
by botje11
3
USDZAR: Sell opportunity after a Resistance rejection.The pair is pulling down on the 1D chart and has reached its pivot point (RSI = 50.729, CCI = -28.2213, Highs/Lows = 0.0000). This should accumulate some buying pressure to take it slightly higher only to be most likely rejected again towards the 12.90 - 13.87 Support Zone. We are short with TP = 13.900. ** 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
USDZAR 1:4 Risk Reward SHORT (Fundamental Analysis)USD Fundamentals Fundamental Quant Scores dipped to a negative -3 - Continuuing Jobless claims increased by 6,000 suggesting more US citizens are claiming credit to help support their lifestyle. - Latest GDP for Q4 showed a less than forecast outcome missing it by 0.2% - Pending Home sales a huge leading indicator dropped to -1% when forecast to stay above 0 - More gas supplies suggests less capital efficiency and more asset storage, so less vehicles are being used, manufacturing is slowing down and is bearish for GAS which can also affect CAD ZAR Fundamental Quant score +33 shows bullish signal - PPI increased to 0.3% showing South African Producers are bullish of the ZAR - Interest Rates stayed the same with no signs of change, suggesting investors from abroad can take advantage of their high interest rates. - Retail sales on 20th grew by 1.2% showing a strong consumer population
Short
by Eren_Jaeger_Trader