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USDZAR

USDZAR breaking a resistance 🦐The market shifted since the 20th of may to a bearish eviorment. Now it just retrace back to the 0.382 fib level of the upper move and found a resistance structure. IF the market will manage to break and restest the resistance area we can look for a short position with a nice risk reward with a target around the 0.5 fib retracement. ––––– Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Short
by InkyGrip
The South African rand takes advantage of the confusionThe South African rand takes advantage of the confusion and the risk appetite to gain against the US dollar. However, with the escalating tension in Hong Kong, the heightening US-China trade war, and the ongoing riots across America is giving a tough time for traders of the pair. However, the South African government is very much on track to reopen its economies, the optimism there is giving bears a little support. The South African rand is rallying ahead of the release of the Manufacturing PMI and the country’s total vehicle sales reports scheduled to be released later today. Last week, the South African rand lost its gaining momentum against the US dollar thanks to the mixed results from the country’s private sector credit report and trade balance for April. The South African trade balance collapsed from ZAR23.94 billion to an alarming ZAR-35.02 billion. Investors are hoping that those figures would recover along with the reopening of its economy.
Short
by Financebroker
2
USDZAR Finding SupportThe Rand had a good run the last 2 weeks but the following reasons may hint to a price support at current levels: 1. Price currently at 50% Fib Retracement level. 2. Horisontal price support from 2 months ago. 3. TD indicator on a perfected daily 9. 4. RSI at extreme low levels. 5. Triangular pattern plays out at current levels. Can the Rand strengthen more? Offcourse yes, but only on the back of a weakening Dollar I would say. Probability though more to the "price support" theme at current levels.
by chsmit
USDZAR Yearly Structure OHLC ( Long Term Sells) Please support this idea with LIKE if you find it useful. USDZAR Monthly Price Has opened High since the beginning of this year with May finally creating a “potential” high. If price closes bearish this month we tanking down . Also a huge bearish divergence starting all the way from the 1st of February 2016 till May 2020 ... perfect indication we going down . Waiting on extra confirmation for proper sell entries. WEEKLY Earlier today we had what seemed to be a bullish divergence which later got corrected with a huge bearish move breaking below our fib zone confirming the presence of Bears in markets. Price can still push going down .. waiting for extra confirms for sells . FX:USDZAR WEEKLY TAKE PROFIT IF U SELL 17.41398 DAILY Price is trending bearish due to the breakout .. wait for OHLC in H4 for entries in m15.. Patience 🔥🔥🔥 WEEKLY TAKE PROFIT IF U SELL 17.41398 🔥🔥🔥 Patience 🔥🔥🔥
Short
by PeanutButter