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Usdzarforcast

USDZAR NEXT TRADE SETUP USDZAR broke major down trendline on H4 time frame and create a "W" pattern in H4 and D1,w1 time frame. Price broke key level at level 17.5000 Strong Resistance level thats the secondary supply with strong bullish movement and now at point 17.9999 and it can restest its near support at secondary supply at point 17.5000 . and if it breaks the secondary supply support than its next target will be point area 16.5000 thats belong to the Monthly Resistance . According to fundamently Usd is going to be strong more Todays and last week DXy and stocks are bullish and GOld is declining towars 1900. if its break the W pattern and adopt the secondary supply towards sell zone so its going to Monthly Resistance It's expected for the continuation of bullish movement to first target resistance level at 18.2000 then finally target supply zone at level 19.0000 All the Entries should be taken only if all the rules of entries are applied. Comments
Long
by TradingSwirls
USDZAR NEXT TRADE SETUP ForcastUSDZAR broke major down trendline on H4 time frame and create a "W" pattern in H4 and D1 time frame. Price broke key level at level 16.7000 with strong bullish movement and now at point 17.3150 and it has to restest its near resistance at point 17.18000 and if it break that next support than its next target and adopot the point area 16.5000 thats belong to the Monthly Resistance . According to fundamently Usd is going to be weak more Todays DXy and stocks are bearish and GOld is rising to peak. if its break the W pattern and adopt the secondary supply zone so its going to Supply zone . It's expected for the continuation of bearish movement to first target resistance level at 16.0000 then finally target supply zone at level 19.0000 All the Entries should be taken only if all the rules of entries are applied.
Short
by TradingSwirls
Year-end USD/ZARMajor resistance for the USD/ZAR pair is expected at 17.27 and a break above this rate will see the forecast range between 17.32 – 17.48 realize year-end. A move into this range is less probable than the zone’s below the major resistance of 17.28. Red zone 1 is expected for August month-end. Red zone 2 is expected for September month-end. Red zone 3 is expected for October and November month-end. Red zone 3 is critical and could be seen as a resistance zone, an upside move out of this range will allow the USD/ZAR to move up into the forecasted year-end range if the resistance at 17.28 does not hold. A failed break above 17.27 will see the USD/ZAR retrace it’s gains and close the year in red zone 3. A failed break above the red zone 3 will see the pair retrace it’s gains and close in the red zone 2, which is at the moment the most likely yearly closing range . Rand strength: The 200-day exponential average, currently at 16.42, is expected to keep the rands’ gains at bay. Rand strength will allow the pair to break this support rate and move the pair into the neutral zone (red zone: 0). A break below the neutral zone will allow the rand to strengthen into “yellow zone 1” between 15.88 and 16.08. The best case scenario for the rand will be a move towards the floor at 15.50, in “yellow zone 2.”
by GustavFourie96
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.
by SilasMorerwa