USDZAR SwingThe original idea was posted yesterday.
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This is not financial advice. Forex trading is risky. Trade at your own risk.
#Trade_Like_A_Magnate
USDZAR
USDZAR SwingOpened a few short positions throughout the day, and held them. The goal was to open another entry upon the violation of the H4 trendline. I missed this entry but no harm done. I have two potential moves in mind.
1. Price may retrace bank to the trendline for a retest before continuing down.
2.Price may break below current support (maybe retest) and continue down.
TIP: Be a "reactive" trader. Follow price.
*Disclaimer*
This is not financial advice. Forex trading is risky. Trade at own risk.
#Trade_Like_A_Magnate
USD/ZAR:PRICE ACTION+FIBO ANALISYS|DOWNTREND|SHORT SETUP🔔The forecast for the USD/ZAR turned bearish after this currency pair lost upside momentum. Traders should expect a rise in volatility as bulls and bears wrestle for control.
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usdzar 28.07.21if our daily support manages to hold and we have a bullish candle close, we might see price push higher to the top/resistance of the range if you can see it. from there, if price manages to break we should see price push higher to complete the daily wickfll on the left and that is the daily resistance. price has been bullish for the past two weeks and if nothing dramatic happens it can continue possibly creating a monthly range.
USD/ZAR short 300 pips!USD/ZAR will have a correction this or next week. Heavy resistance at this level and monthly fib at 15.0267. Market psychology took this pair too highe due to political uncertainty and covid. We are familiar with extended trends with respect to covid. ZAR is heavily correlated with metals and bonds, especially lower yields will be bullish for ZAR, higher base metal value will be bullish for ZAR, but not so much as yields. Technical analysis shows strong resistance and DXY may have a correction soon. Which further supports the claim for bearish USD/ZAR to about 300 pips.
USDZARSo Far we Bullish Movement on this pair ( Monthly )
If the Rand strengthens we could see a drop in price or if the dollar does - we will see a price in the ZAR value
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Thank you for the support.
USDZAR a strange reversalCurrent pullback risks to resolve to another leg down. It is strange enough since the bigger picture in cross-asset field is negative (long USDZAR usually) but the picture is the picture. I consider that as a point of weakness and abolish trap so I fully prepared to short it.
USDZAR BUY - ZA ECONOMY COLLAPSEThe only way South African's can benefit from the havoc we are facing is by longing USDZAR.
Zones are marked. Enter during NY session. USD strength will come in.
Enjoy, swing to the upside R20+, take partials at R15, R15.55.
USDZAR potential long tradeLooking closely at the USDZAR, potential to see the R15 per dollar again, what could be the catalyst?
USDZAR buy ideaThe chart is now forming a W which shows that its now going uptrend. Let's watch this pair
USD/ZAR UPDATED ANALYSISYou can see if we put both the DXY and USD/ZAR next to each other how well they correlate at the moment. Both charts have retraced respectively giving a strong narrative that if the DXY respects the trend and moves higher, that USD/ZAR will follow suite. The South African economy has taken a huge knock this week due to extended Covid restrictions but more importantly, the looting of major retail enterprises. Yesterday South Africa released it's Retail Sales YY* results which came in at 15.8% which, when compared to the prior results of 95.7%, is insane. If you piece all of this information together then it is reasonable to assume that the Rand will continue to weaken against the Dollar for the foreseeable future.
DOLLAR/RAND ANALYSISPossible bounce off of support or a retracement before a continuation. Either way I see the Rand weakening against the Dollar due to the current state of the nation. Target 1: 15.00000 ; Target 2: 15.60000
USDZAR LONG on a Geopolitical and Technical basis #ZAR I have bought USDZAR. FX:USDZAR
Civil unrest has erupted in South Africa after the arrest of former president Jacob Zuma.
The currency pair has been in a downtrend since April 2020 and has just broken the downward channel to the upside.
I prefer trades with such a confluence of factors working in their favor. Let's see how this plays out.
- Sure Capital
2.29R USDZAR Entry Price 14.13530USDZAR Close Price 14.13530
USDZAR EMA 10 Close Price 14.08147
USDZAR EMA 20 Close Price 13.99052
USDZAR Fibonacci Retracement Level 23.6% Price 14.15898
Pin Bar (Rejection Candle) is at a higher low position.
USDZAR 2021The USDZAR pair is currently sitting in the consolidative blue triangle. As long as the DXY remains below 92.800 and platinum stays above $1015, I expect the pair to complete an ABC corrective pattern.
A break above the 200-week MA rate of 14.59 could however see the pair move into the range between 15.50 and 16.00.
The fundamentals that drove the rand stronger in 2020 and the first half of 2021 are still present. SA is still holding a healthy trade surplus, the rand still has strong carry trade appeal and commodity prices remain stable. I remain doubtful that the FED will taper their minimum $120 billion in asset purchases this year despite their recent "hawkish" monetary policy stance.
China's credit impulse has recently turned negative which could weigh on commodity price growth in the next two quarters but the news that China cut their reserve requirement ratio by 0.5 percentage points earlier today has me remaining bullish on commodity prices (Chinese credit expansion will support commodity demand).
4.47R USDZAR Entry Price 14.20340 Exit Price 14.01850USDZAR. Wait For A Close Below 14.20340. After the close below 14.20340, watch for a pull back to 14.20340 price level.
USDZAR Upcoming Swing ShortAnalysis done on the weekly timeframe. As you can see, USDZAR is in a clear downtrend. I expect price to come up closer to the trendline before ultimately heading down again. I have identified several key support and resistance levels from the weekly TF also.
This is just my analysis, i've never actually traded any exotic pairs. If anyone has any advice or tips for exotics, specifically UZ, i would appreciate it if you could comment them. Only reason i even ended up checking it out was because i read an article on Bloomberg about SA struggling with covid vaccines, so i figured this could be a good opportunity to swing.
I may take a short on a small lotsize once price comes up to an ideal entry.
USDZAR USDZAR BUY
It reject a daily support.
in 4h i am expecting a continuation to the upside.
Already in the trade
