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USD-ZAR

USD/ZAR 1H Chart: Downside potentialThe US Dollar has been depreciating against the South African Rand gradually since the beginning of August. This movement has been bounded in a falling wedge. During this week the pair has been trying to breach the resistance level formed by the weekly R1 at 14.54. Given that the exchange rate is being pressured by the 55-, 100– and 200-hour SMAs, it is expected that the rate targets the lower wedge line located circa 13.85 within the following sessions. Technical indicators also support bearish scenario. If given wedge does not hold, a breakout south might occur. Potential downside target is the Fibonacci 50.00% retracement at 13.58.
by UnknownUnicorn890690
USD/ZAR 1H Chart: Upside potential apparentDownside risks has been dominated the USD/ZAR exchange rate since the pair reversed from the upper boundary of a medium-term ascending channel at 15.47. During this week the currency pair has been trying to surpass the resistance cluster formed by a combination the weekly and monthly PPs, as well the 55-, 100-, 200-hour SMAs and the Fibonacci 23.60% retracement in the 14.60/14.71 range. Technical indicators for the long term suggest that a breakout of given resistance cluster might happen in the nearest future. However, this advance might not be immediate, and the pair could decline to the weekly S1 at 14.26 within following trading sessions.
by UnknownUnicorn890690
USD/ZAR 1H Chart: Bearish in short-termThe South African Rand has been appreciating against the US Dollar for three sessions after the USD/ZAR pair reversed from the upper boundary of a medium-term ascending channel at 15.65. As apparent on the chart, the US Dollar has reached the weekly R1 at 15.04. In addition, the pair is pressured by the 55– and 100-hour SMAs. These two factors allow to think that the pair could aim for the support cluster formed by the weekly and monthly PPs near 14.45. Meanwhile, technical indicators flash bullish signals in both the short and long terms. This means that some advance northwards may still occur until the upper boundary of given channel
by UnknownUnicorn890690
USD/ZAR 1H Chart: Breakout from channelAfter testing the senior channel at 13.10 two weeks ago, USD/ZAR initiated a new wave north along the bottom boundary of this pattern. This movement soon lost its strength, thus resulting in minor consolidation starting from the beginning of August. The pair’s most recent development is a breakout from a strong resistance cluster formed by the monthly PP, the 61.80% Fibonacci retracement and the 200-period (4H) SMA at 13.43. The junior channel was breached along the way. From theoretical point of view, this breakout should be followed by a surge, at least in the short term. The nearest upside target is the 13.80 level where the monthly R1 and the most junior channel are located. In case this appreciation does not occur, traders should wait for a fall below the 200-hour SMA and the senior channel that should confirm a price decline for a couple of session.
Long
by UnknownUnicorn890690
USD/ZAR 1H Chart: Pair shows weaknessThe US Dollar has appreciated substantially against the South African Rand since mid-May. During this time, the pair gained almost 15% and peaked at its highest position in 2018—the psychological 14.00 mark. This surge has been bounded by an ascending channel. The pair hindered near its bottom boundary on Tuesday, thus pointing to a possible southern breakout. However, the Greenback managed to re-gain its bullish momentum and reach the aforementioned high today. Long-term technical indicators are located in the overbought area. Thus, it is likely that a new wave down starts next week. This assumption would likewise be strengthened if the rate fails to overcome 14.00 and reach the upper channel line near 14.50 during the following sessions.
Short
by UnknownUnicorn890690
2
USDZAR shortreasons for me adding more shorts: After the great buy trades placed, the bulls finally hit our monthly trendline and started losing momentum which then concluded the bull run and triggered my shorts. Looking at the pair, I have decided to add a few more shorts now because of the following reasons: 1. H4, we have had a squeeze play breakout (sellers funneled price down and finally broke our support area) 2. market has come back for a retest and the bears are now gaining momentum If we close above our minor trendline my analysis will be invalid
Short
by billionare_mo
USD/ZAR 1H Chart: Pair likely to declineThe US Dollar has strengthened against the South African Rand since late March. The pair was appreciating gradually for two weeks prior to skyrocketing last week. This strong upward momentum resulted in a test of the 12.50 mark which is located near the senior channel. By mid-Thursday, the pair had breached the steep junior channel and returned near the weekly R3, the monthly R2 and the 55-hour SMA at 12.35. It is likely that the Greenback continues to move lower during the following sessions. Some slight hindrance might be met near the 12.20 area due to several important support levels being located there. A reversal to the upside might occur circa 12.10 where a medium-term trend-line is situated. On the other hand, a failure to breach 12.30 should be followed by a test of the 38.20% Fibonacci retracement near 12.70.
Short
by UnknownUnicorn890690
USD/ZAR 1H Chart: Two scenarios possibleAfter hitting a three-year low of 11.50 late in February, the US Dollar has began strengthening against the South African Rand. This movement has been constrained in a rather flat ascending channel. The most recent test of its bottom boundary was two weeks ago. Being supported by the 55-hour SMA, the Greenback was able to breach a trend-line near the psychological 12.00 mark late on Thursday. Technical indicators are neutral; thus, two scenarios should be looked at. On the one hand, the US Dollar might continue edging higher along the 55-hour moving average this week with upside potential being located at the upper line of the senior channel near 14.20. On the other hand, the 12.00 area might surrender under the bearish pressure and push the pair down to the breached trend-line, the 200-hour SMA, the monthly PP and the weekly S1 in the 11.90/85 territory. In addition, the rate could fall even further down to the bottom channel line circa 11.70.
by UnknownUnicorn890690