USDZAR
USDZAR H4There was a complicated wxy formation in the B wave. As i said in my previous analysis I'm long in the short term.
USD/ZAR : Buy Trade Setup Low risk , Big Reward Trade setup.
Looking For the Upside continue.
ThankYou
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Profitlio Trading ( Since 2014 in Financial Markets )
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USDZAR AnalysisMy analysis of how USDZAR can potentially play out over the upcoming days.
I'm anticipating a reversal at the 61.8% fib level. Will update on the trade as the week progresses.
What are your thoughts on the pair? Hit the comment button and let me know what you think.
USDZAR Wait ConfrimationsPersonally I would like see a drop in price from here.Although ,due to US Fundamentals we could see a bigger retracement.
USDZARUSDZAR D1! The market just breaks their resistance and looking for retest upper level is still a minor resistance that can be broken easily. We are doing this trade on a breakout strategy that always works with high accuracy.
Have good pips folks!
USD/ZAR School Example :DSchool example of buy setup :smile: Price tested the structure with weeak momentum so we expected that bulls will be back. Honestly we rarely trade exotic pairs.
USDZAR H2Price has broken out of the descending channel, then went into a consolidation period for some time. Price has now broken the consolidation & now retested broken resistance as support. Will be looking at prices reaction at the current support for a move higher.
USD/ZAR, we got a clear Breakout of the Range.USD/ZAR was very bearish for the past few weeks, but to be honest, this is a clear trend change in my opinion. We will be monitoring price action and if all the rules of our strategy will be satisfied we will be interested in taking a nice long, with good risk to reward and probabilities for a nice push to the upside.
BREAKING: #USDZAR to R24 per US Dollar by 2030The days of gloom lie ahead for the South African economy.
Very optimistic for a South African citizen right....? NAH!
Let me begin with a disclaimer: firstly I am a proud South African citizen and secondly I'm a Market Technician by profession. My job as a Technical Analyst is to study financial instruments or charts using time tested principles to deduce an understanding of the behavioral patterns of any market historically. I have no choice but to remain objective and true to the laws and principles of my profession because the market doesn't care about how I feel about my country. I want my country to prosper, I want to see the currency strengthen over the years, and perhaps sometimes it will take a simple chart like this that may reach some senior citizens and guide them to make different decisions for a better and stronger economy.
Now let's begin.
USDZAR is currently trading in dangerous territory below the R18 resistance. The good news is that the bears are at the advantage to defend the R18 price to drive the downward trajectory agenda.
The defense of the R18 resistance may see a 20% gain in the South African Rand to around R14 to the US Dollar and failure to defend the R18 price may see the Rand tumble a staggering 33% to R24.
Ideally I am expecting a medium term pull back of 20% gains for the Rand to the March 2011 trendline support. The March 2011 support is very dangerous and may set the market on rocket speed to a multi-year depreciation of the Rand of 70% loss against the US Dollar to R24. We should see these movements happen within the decade by 2030.
The push to defend the R18 price as well as the 20% gains to R14 in the medium term gives South Africa a fighting chance against the Goliath because it presents the opportunity to even break the March 2011 support for further gains. This is the scenario that I hope to see fulfilled but only time will tell.
