USDZAR on VWAP and ABOVE MAPretty good R:R and setup for European opening. Meanwhile, we also have UZAR buy for longer term.
USDZAR
USDZAR -Double BottomHello Traders!! USDZAR has been making downward movement for some days and finally it is forming a double bottom structure and as i always say, double bottom is a trend reversal pattern and so we should be expecting a reversal from the downtrend to uptrend...
Watch for break of the neckline and before making entry...
For more free analysis, kindly like, share and subscribe.
See you in the next analysis
Reversal on the cardsThe rand has performed solidly since the start of the year mostly due to Powell's less hawkish stance in his testimony earlier this week and more liquidity entering the market. Yesterday's US CPI print for the month of December, which came in at 0.5% m-o-m down from 0.8% in November, saw the DXY drop 0.62% which allowed the rand to pull the pair below the support rate of 15.50.
The next rate of support is the 100-day MA which coincides with the 38.2% Fibo retracement rate at 15.24. I expect this support rate to hold as the stochastic indicator on the pair is trading deep in the oversold zone and the RSI is also nearing its oversold zone. (Both these indicators are deep in the oversold zone on the 4h timeframe)
I'm looking at a short-term'ish buy opportunity around 15.24 with TP zone between 15.66 and the 50-day MA at 15.72. A break above this zone could allow the pair to test the major resistance at 16.10.
ZAR 2022The weekly close below 15.65 last week is rand positive heading into 2022. The next support I'm watching is 15.50. A break below 15.50 will allow the rand to pull the pair lower towards the bottom of the orange medium term channel between 15.16 and 15.30 (or the 100 day MA at 15.23)
Fundamentally however the Feds expected March rate hike will be dollar positive but I believe it may already be baked into the market.
USDZAR Long - Weekly/Daily analysisUSDZAR has bounced off a Weekly/Daily support level , forming a higher low in an uptrend and bouncing off the 14 Weekly EMA . A continuation to 16.40000 (previous higher high) is expected.
Going short on UsdZarI do not know why but I have a feeling I’m right.Take this trade and let’s eat together....
usdzarANTHONY TAUGHT ME THIS
trendline respected
fib respected
200 and 50 moving average shows uptrend
structure respected
USDZARStarting the year of with a selling trade, 1 win of the year. Market structure being respected.
USDZAR BULLISHLooks we are going to see bullish movement for the USDZAR for the following reasons:
we see the market has broken the the decending triangle and has restested the trend line. and bullish movement is expected to continue bullish if it sentiment sticks to the triditional movement of the decending triangle being a bullish movement
TUESDAY, JANUARY 4
15:00
USD ISM Manufacturing Employment Index(Dec)
USD ISM Manufacturing New Orders Index(Dec)
USD ISM Manufacturing PMI(Dec)
USD ISM Manufacturing Prices Paid(Dec)
USDZAR daily chartHi, ZAR is overvalued (fairvlue is 19) and sooner or later it will lose the excessive value.
On this daily USDZAR chart, I made a reference circle for earlier price move and a new circle for price move assumptions.
I do not will but I expect to see the ratio over/around 20.
This is only my idea, not an investment advice
USDZAR LONG TRADE IDEA the HTF of this exotic pair is still bullish. will be looking for buy positions
Possible bullish flag forming on higher timeframesLower lows forming off of the Monthly highs , looks to be a pull back before a bigger push to the upside.
USDZAR Top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDZAR Analysis for SellI looking for Sell for USDZAR. It already touches the Daily TF OB and I believe is now creating the Distribution Schematic and is getting ready to sell. I've mark the areas where I think it will retest to sell.
USDZAR to Commence RetracementHello fellow risk-takers,
USDZAR is ripening for an extended retracement down. The pair is having difficulties extending its rally due to exhausted momentum.
A retracement is expected to help bulls gather momentum needed to form new higher highs.
Trade well and take care.
Wave analysis of usdzarClearly we on the fourth wave..
Am not good with words but let's see how this play out.
If you will be taking this, trade cautiously.
usdzar short setup i open a trade like what you see on chart . hope it will be useful for you ! enjoy !
USD/ZAR ewThe pair flew to the 50% Fibo retracement level of 16.37 last week Friday following some fresh virus FUD.
A daily close above the critical resistance rate of 16.37 will confirm a channel break out of the longer-term orange channel and send the pair higher towards the 71.8% Fibo rate of 17.07. The pair is however trading in heavily overbought ranges on the RSI and the virus FUD will likely ease which may allow the rand to pull the pair to calmer waters around the 10-day MA of 15.82, over the next two weeks. I'm however not getting my hopes up for a test of the critical support rate of 15.66.
Lots of event risk this week, Powell babble as well as from Yellen plus NFP's. (The latest variant FUD may cause Powell to sing a less hawkish tone this week, let's see)
From SA, unemployment figures and the latest trade balance.
Over the slightly longer-term its seems likely that the current third wave will break the orange channel (fundamentally almost every thing seems the be in favour of further rand weakness). A failed break above 16.37 could however see the start of an ABC corrective wave in January next year.
