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USDZAR

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
ridethepig | Dovish SARB On Deck!We are reaching the lows in the range right on time for SARB today. Markets are expecting a 50bps move, a little bird tells me that we are set for more... Remember the domestic story in South Africa is only going one way; sadly it's the same outcome as Turkey. On the technical side, tracking closely the 18.00 support to build longs outguessing a dovish SARB. Look to target the 18.5x and 19.0x highs and lighten up below 17.7x. Good luck.
Long
by ridethepig
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