USD/ZARThe South African dollar is one of the most attractive currencies traded in Forex.
According to the news of consumer inflation in the United States, the selling position is likely.
(This is just a personal opinion)
#USDZAR
USDZAR
BULLISH USDZAR18.66 has proven to be a strong zone for this pair. Throughout the past 2 years, price has shown strong reaction in this area. I see price rising to 19.60 in the next month. Let me know what you think in the comments.
USDZAR BUYThis pair is trading in a bullish trend. Continuation from 18.8 all the way to 19.5 and possibly beyond.
#USDZAR stuck between 18.95 and 18.20. USDZAR some interesting developments for the Rand bulls. 50dma < 200dma (death cross). 3 lower highs forming what could be a potential flat bottom triangle with the base at 18.10-18.20.
Some bullish characteristics here which could be shifting sentiment in favour of the bulls but it's still too early too call. Range bound between 18.95 and 18.20 now. A convincing break above or below the two levels will be needed to force a move in either direction.
Tricky btu definite buy for USD/ZARA clear bullish move is in set for USD/ZAR in order to fill that massive imbalance on the left side. Wanting to enter off strong demand zone where we can see price react off of and consolidate in the past.
Watch out for the liquidity depicted by the arrow. Only enter if there is a slow move to entry otherwise price may want to first capture that liquidity.
Hope everyone is having a great new years!
#USDZAR daily analysisUSDZAR saw a bearish reversal off the important 18.75 level which was strong support previously. Should we trade below friday's low at 18.61, i suspect we will see a re-test of 18.43. However if no follow through of the reversal occurs and price manages to gain traction above 18.75 i would then expect the 18.90 level to come into play where we find the 50dma and the downtrend resistance. My gut says back to 18.43 the more likely action given friday's candle structure
USDZAR LONG COMING SOONHello. Looking for USDZAR to make a move upwards.
1. Ending structure
2. MACD divergence
3. Looking for price reaction at Price 16.86
Trade with care
USDZAR: Long term Channel Up preparing the final rally.USDZAR is trading around the 1D MA50 on neutral technicals (RSI = 45.374, MACD = -0.003, ADX = 21.007) but on a long term Channel Up for the past 2 years. This current consolidation has been the accumulation period in the two bullish legs prior before the final rally to a Higher High. This is our buy entry and we aim at the top of the Channel (TP = 21.000).
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USDZAR ForecastWe're trading in a double correction pattern in the weekly timeframe. We have the wave W and X waiting for wave Y completion.
Sell USDZARUSDZAR is very bearish. The pair has been falling for the past weeks now. It's time to continue down.
USDZAR One last High before this 3-month rally is exhausted.The USDZAR pair made a 4-month High last week, extending the 3-month rally since the Higher Low at the bottom of the Channel Up pattern on July 27. With the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) supporting, based on the previous Higher High, the price has one last run to make before getting exhausted. Our target is the 1.5 Fibonacci extension at 20.2500.
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#Rand remains a sell the rally at 19.20-19.30Still looks like the play here is to buy rands between 19.20 - 19.30. Buying back short positions on USDZAR pair at 18.80 and then 18.40-18.50 which is the low of the range
USDZAR sellThis sell could print really nice, price is right now trying breakout to the upside. If it fails to break, we could see it retracing back to around 18.15! My trendline was made with the first two tops that price made, giving the idea that price already tried and failed creating a fake breakout early this month.
Will wait for today's candle closure. If below trendline will open a position with stop loss at 19.15.
USDZAR ForecastThe bullish bias is still in play, and the A-B-C zigzag correction retraced relatively deep to close to 78,6. We have an invalidation level for the bullish bias key to focus on it.
#USDZAR needs a close below 18.80 for further strengthUSDZAR has held the 18.80 support level for now but the long upper tails over the 19.00 level shows the rand bulls in control of price action for now. A daily close below 18.80 should bring about levels of 18.60 and 18.40. 200dma sits at 18.26 and the pair has a tendency to mean revert back to the 200dma before finding support in the recent past.
USDZAR Long Supply And Demand Trade Setup-Price broke uwpard ML
-Price removed opposing pivot supply
-DBR created
-Valid 1TF swing or use 4hr demand
as HTF and wait for new LTF conf day-trades.
-Spread will be wide + comossions high...
Ideally not for most traders.
USDZAR Ascendıng trıangle Hello Everyone we are tradıng now thıs ascendıng channel untıl waıtıng for a breakout
the breakout from the up or down from thıs channel,
the breakout suppost to be to downtrend 18.500 or to uptrend on the 19.300 after retesting it on that price,
until that time we have a trade with the ascending triangle
Set the \TP : 19.300
SL : 18.900
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USDZAR ForecastThe USDZAR seems ready to be bullish, no long ago we anticipated a correction for wave (2) which then occurred and traded to a 50% Fibonacci retracement.
The upside will last a lot longer we can expect it to break the previous high with a Fibonacci projection of 1.61.8 as that is common for wave 3s to extend to that level.
USDZAR BUYUSDZAR price drops sweetly to newly established support at 18.85 early this week 11-15 September. Price recently broke out a bullish channel and this looks to me like a retest. Now would be a good time to buy and exploit the possible weekly and monthly pullback.
USDZAR | Weekly | UpdateLooking at USDZAR on our weekly chart we can notice that USDZAR has been failing to break to the downside as has been respecting our previously outlined levels. To elaborate further we can take note of the fact that USDZAR’s failure to break through our 17.50xxx Psychological level confirmed a new higher low on the pair after which it started rallying back up and is now trading above our 19.0xxxx price point; we can also take note of the fact that after USDZAR failed to break our 17.50xxx level creating a new higher low it gave us the opportunity to identify the formation of that bullish channel within our already existing long term bullish trend.
Now looking to the right on USDZAR we can notice the possibility of it creating a new all time high between our 20.50xxx and 21.50xxx respective levels and considering the current economic climate in South Africa and the upcoming elections causing further instability in the ZAR so we could possibly see the USDZAR head towards these levels as we head into 2024.
South African rand in trouble - Next target R21 :(Inv H&S has formed on the USD/ZAR since 6 June 2023.
The price has recently broken above the neckine, showing the US dollar is poised for upside.
The DIXIE (US Dollar Index) is also showing upside to come.
7>21>200 and confirms the US dollar is going up.
RSI>50 - Bullish
First target is R21.00
ABOUT THE DIXIE:
HOW IT’S CALCULATED
The USDX is calculated by the Federal Reserve Bank of New York and is based on the exchange rates of six major currencies: the euro (EUR) – Accounts for 57.6% - ,Japanese yen (JPY), British pound (GBP), Canadian dollar (CAD), Swedish krona ( SEK ), and Swiss franc (CHF) .
USDZAR 4H ForecastWe're in a bullish sequence on USDZAR, we're in a wave 3 phase which will unfold as an impulse wave. USDZAR will most likely trade bullish based on inverse correlation where XXXUSD trades on the bearish side. We can expect a minor pullback which may result in a significant buy very soon.
$USDZAR ZAR looks fragilePossible inverted head and shoulders building on the ZARUSD
Neckline is at 19,35
If that breaks 21,17 becomes a target
These head and shoulders formations usually takes a while play play out
Patience required
