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USDZAR

$USDZAR Daily - Dollar bulls still have the ball (for now)A chart that many South Africans will be watching with interest. The confirmed break of the inverse H&S in November set up a full target of 17.00. The pair quickly tested 16.30 before consolidating within an asymmetrical triangle. Consolidations are healthy, and will allow USD to gather some steam before next surge higher. However, currently, USDZAR is testing triple support, namely: H&S neckline, bottom triangle as well as 200 SMA. Should these support levels break, and we get a sustained move below 14.90 - this invalids the prior bullish USD patterns. Next support levels will come in at 14.40, 14.10 and 13.40 respectively. On the other hand, a break above 15.40 confirms the asymmetrical triangle targeting 16.30.
by arracofx
USDZAR 15.34901 + 0.39 % SHORT IDEA * CONTINUATION PATTERNS CONTHEY EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE. NEW WEEK, NEW OPPORTUNITIES. LOOKING AT THE DOLLAR / ZAR * The PAIR has been trading in a descending channel just tested the TOP of this structure creating a double top after some strong bullish rally. - Short term the pair is currently rejecting at this structure possibly signaling a change in momentum on the 4h chart this, WE SAW A BREAK AND RETEST of the small ascending structure with multiple rejections.. - Looking for short entries on the THE DOLLAR ZAR this week should all the rules of the formation be met. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
Short
by PULEMokhothu
USDZAR 15.13150 + 0.09 % SHORT IDEA * CONTINUATION PATTERNS CONTHEY EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE. NEW WEEK, NEW OPPORTUNITIES. LOOKING AT THE DOLLAR / ZAR * The PAIR has been trading in a descending channel just tested the TOP of this structure creating a double top after some strong bullish rally. - Short term the pair is currently rejecting at this structure possibly signaling a change in momentum on the 4h chart this.. - Looking for short entries on the THE DOLLAR ZAR this week should all the rules of the formation be met. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
Short
by PULEMokhothu
USD/ZAR : REVERSAL BUTTERFLY PATTERN FORMATION | LONG TRIGGERHello Everyone, I hope you'll Appreciate our Price action Analysis ! Our strategy is based on Swing trading with price action Analysis and Advanced Fibos tools. Please support our page by hitting the LIKE 👍 button to this Idea and Follow us to get NEW ONE! Feel free to request any pair/instrument analysis or ask any questions in the comment section below. If you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Have a Good Take Day_Profits !
Long
by DAY_PROFITS
Checking in on the ZARThe rand seems to be holding steadily following the past two weeks of Fed noise and Friday's non-farm payroll print. The US 10-year treasury yield spiked rapidly after the payrolls print, roughly 4.37% to 1.912 which allowed the DXY to gain some strength. The key resistance rate for continued rand weakness in my opinion remains at 15.64388 (the 38.2% Fibo retracement rate from the pair's highs in April 2020). This resistance rate also coincides satisfyingly with the 50-day MA rate of 15.65. In terms of the Elliot wave theory the impulse wave from the dashed blue channel has been invalidated because wave four broke below the peak of wave one at 15.40. The channel is however still holding its ground which is rand negative. In terms of commodities, the current commodity cycle is still well intact. Brent crude oil closed the week at $92.74 and looks set to go much much higher as the year progresses which is rand positive. The one commodity to watch for this pair however is platinum. The precious metal is currently holding onto prices above $1000/oz after starting the year positively but the resistance price of $1066/oz still remains intact. Technically, there is a buy signal on the MACD indicator and the RSI is trending higher which is hinting at some rand weakness for the month of Feb. A break above 15.64 will allow the pair to test December's high of 16.10. On the flip side, if the rand can hold the pair below the 50-day MA and pull the pair below 15.40 we could see a retest of 15.04.
by GustavFourie96