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USDZAR

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
1
$USDZAR Continuation or not?Triangle consolidations are normally continuation patterns in the direction of the preceding trend. I for one doesn't hope this plays out but nevertheless as traders we can't let our emotions get the better of us. Triangle is still in development but one to keep an eye on as we approach the bottom end of the channel. A potential rate cut by the SARB tomorrow could be rand negative and supports a bounce off the bottom of the channel. In either scenario, one would wait for a break of the triangle to confirm direction, but should we continue in the same direction of the previous trend and breakout eventually, the triangle projects a target of 20.10-20.30 against the US Dollar.
Long
by MarcoOlevano
3
Potential Short-Term Long for USDZAR?blI have denoted the two movements I believe are possible given the technical analysis I have conducted with two different coloured sets of arrows. The purple arrows denote the possibility of price making a more immediate rebound from the lower bound of the daily pennant against which it currently has support, possibly to the upper bound of the 4H channel or the upper bound of the daily pennant, the yellow arrows denote the possibility of a short term break of the daily pennant to the 4H support zone, prior to re entry of the daily pennant. Both possibilities fall in line with the bullish price trend associated with the lower bound of the daily pennant. I will be trading this on the 1H should the black countertrend line I have drawn in be broken correctly. Note has to be made of the MPC meeting this week. I am only trading this pair on the 1H given the unpredictability of long term movements.
Long
by Papache