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USD-ZAR

USDZAR day trade 27/03/2018Pair has lost value as a result of the USD / US stock market sell-off, caused by the US / China trade "war". SA's currency should not be this strong, and as the Dollar and SPX bounce back over this week, we'll see the USDZAR pair favor the dollar. Long dollar. Reason for trade: Rand is way too strong, is not a result of economic growth in SA but rather was caused by the volatility of the US stock market last week. However, word on the street is that the US and China are 'talking'. In my opinion the dollar will strengthen, and the piece of shit Rand will lose value and return to where it should be. Timeframe : 1 week max Shoutout: Donald Trump and his stock market plunge-protection team
Long
by UnknownUnicorn897809
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 1H Chart: Bulls expected to prevailThe US Dollar has depreciated gradually against the South African Rand during the previous two weeks. This movement down began when the rate reversed from the upper boundary of the senior channel valid since mid-November. Even though the pair has edged lower in line with the senior pattern, it has not left its upper boundary. This suggests that a breakout might be due soon. The US Dollar might still edge lower in this session down to a trend-line circa 11.45 prior to gaining momentum and breaching the senior channel circa 11.65. This area could mark slight resistance, given that the 55–, 100– and 200-hour SMAs should be located nearby. A possible upside target for the following two weeks could be the 12.00 mark. Conversely, the Greenback might breach the aforementioned trend-line and approach the monthly S2 near 11.30.
Long
by UnknownUnicorn890690
USD/ZAR 1H Chart: Patterns point to appreciationThe US Dollar has been depreciating in a channel down against the South African Rand for the last three months. Mid-December, the pair formed a new ascending channel within the bounds of which it breached a down-trend in force since December (the dashed line on the chart). Meanwhile, the rate bounced off its 2016/2017 low of 11.80 last Thursday. These two factors together with signals from prevailing patterns suggest that the US Dollar might be due for a surge within the following weeks, setting the upper boundaries of the senior and junior channels circa 12.10 as a possible near-term target. However, technical indicators are still in favour of another fall in the short term that could guide the pair towards the 11.70 area where the monthly and weekly S1s are located.
by UnknownUnicorn890690
USD/ZAR 1H Chart: Pair points to bullish momentumAfter reversing from the 2017 high of 14.60 mid-November, the US Dollar began trading in a steep channel down against the South African Rand. However, its movement during the past three weeks has been sideways in a flat descending channel. This suggests that the prevailing bearish momentum might weaken during the following weeks, especially when taking into account that the Greenback fell down to its lowest mark since mid-2015 early today. The pair should push towards the upper boundary of the junior channel near the 12.50 mark within the next two weeks. Meanwhile, technical indicators suggest that the Greenback might fail to overcome the 200– and 100-hour SMAs circa 12.35 on its first attempt. In this case, the pair would be pushed lower towards the 12.20 prior to realising the aforementioned bullish scenario.
by UnknownUnicorn890690
1
USD/ZAR 1H Chart: Senior channel holdsThe US Dollar has been confined in a channel down against the South African Rand during the past two months. Its lower boundary was tested early in this session, when the rate was unable to move past the monthly S3 located at 12.27. This low volatility suggests that the pair might reverse from this medium-term pattern and initiate a new wave up. The steepness of two more junior patterns likewise demonstrate that the Greenback has remained near their upper boundaries, thus pointing to a possible upside breakout. The nearest resistance is set by the 55– and 100-hour SMAs circa 12.50. This area is likewise reinforced by the weekly S2 and the 200-hour SMA. Thus, the Greenback could hinder near this territory for a while prior to moving towards the upper boundary of the senior channel. In case the southern barrier does not hold, no support that could halt the pair is located nearby.
by UnknownUnicorn890690
3
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
USD/ZAR 1H Chart: Two channels prevailThe US Dollar is currently trading in a long-term channel up against the South African Rand. The pair reached a 2017 high of 14.5422 on November 13, breached the previously prevailing ascending channel (drawn with dashed lines) and subsequently initiated a new wave south. If looking at the junior pattern, the Greenback should test its upper line circa 13.85. However, the 55– and 200-hour SMAs which have limited the pair for the past two weeks are located nearby. Even if the pair edges higher, the pressure of the monthly PP, the 200-hour SMA and the weekly S1 near the 13.90 mark is likely to reverse the pair back down. Meanwhile, the bottom boundary of the senior channel is located circa 131.10. The US Dollar could push for this mark during the following two weeks.
Short
by UnknownUnicorn890690
USD/ZAR 1H Chart: Pair points to weaknessUSD/ZAR is trading in an up-trend since mid-July; however, the pair has failed to form an ascending channel due to a diminishing trading range. Thus, an ascending wedge is a more accurate representation of its movement. Meanwhile, the US Dollar has managed to hold this pattern for the last two and a half months; thus, it is currently located at a 2017 high of 14.50. As apparent on the chart, the pair has failed to reach the upside boundary of the aforementioned wedge for two weeks. This factor suggests that this pattern is unlikely to constrain the rate any longer. The subsequent movement therefore should be to the downside. During the following two weeks, the US Dollar might approach the upward-sloping trend-line circa 14.00/14.10.
Short
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 1H Chart: Greenback close to channel borderDuring the past two weeks, the US Dollar has gained momentum against the South African Rand, thus forming a steep ascending channel. This pattern is a part of a medium-term descending channel. Currently, the rate is located in between the boundaries of two channels; thus, the following hours might demonstrate which could be the dominant direction during this week, at least. Given that the rate respects the boundaries of the senior channel, it should edge lower and try to approach its bottom boundary during the following weeks. The US Dollar breaching the 55– and 100-hour SMAs near the 13.70 mark could confirm this scenario. Trend indicators show mixed results, but it seems that they point to a possible decline. Conversely, the rate might breach the senior pattern and test the six-month high at 13.8511.
by UnknownUnicorn890690
USD/ZAR signals to possible weaknessUSD/ZAR has been trading in a narrow ascending channel since early September. This upward movement has pushed the rate to its six-month high at 13.8548. As apparent on the chart, the US Dollar has lost is strength during the last two up-waves, as its latest two peaks have failed to reach the upper channel boundary. The last peak was halted by the weekly R1 at 13.8550. This might indicate to a change in the current bullish sentiment. In order to confirm the assumption of a possible momentum southwards, the rate has to breach the 55-, 100– and 200-hour SMAs and the weekly PP in the 13.75/13.50 area. Nevertheless, the rate might still bounce off one of the aforementioned support levels and manage to push upwards. This move, however, is unlike to hold for long.
Short
by UnknownUnicorn890690
USD/ZAR hinders near 13.05The downward pressure that prevailed the market since early August bounded USD/ZAR in a descending channel, thus falling down to the 12.76 mark one month later. After failing to penetrate this level once again two session later, the US Dollar broke out of the channel and consequently formed an ascending wedge. The pair is currently testing the 38.2% Fibo at 13.04. Given various failed attempts, this level is not expected to surrender under the pressure unless some major jumps are to occur. Thus, the daily outlook for the pair is bearish, setting the 23.6% Fibo and the 200-hour SMAs at 12.92 as a probable short-term target. This move should breach the bottom wedge boundary and consequently result in a price decline.
by UnknownUnicorn890690
USD/ZAR 1H Chart: Channel DownThe US Dollar has lost value against the South African Rand in the recent weeks, thus resulting in the formation of a channel down. In addition, the two massive plunges within the last few trading sessions have revealed a new junior pattern—a falling wedge. Technical indicators suggest that the rate is likely to breach the wedge (in a rather flat motion) and approach the 55-hour SMA which is located near the upper channel boundary circa 13.05. Being reinforced by the 50.0% Fibonacci retracement, this resistance area may prove to be too strong to surpass, thus initiating a new move downwards. In case of a fall, the bottom target is set by a combined support of the monthly S1 and the weekly S2 at 12.81.
by UnknownUnicorn890690