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Usdzarlong

USDZAR Analysis: A Buy Setup in FebruaryThe USDZAR daily timeframe for February presents an "open low" structure, indicating a potential BUY SETUP . This structure signifies that the market has maintained a bullish sentiment, starting with low prices early in the month and showing an upward trajectory. Traders should note this trend and align their strategies accordingly, as it suggests strong buyer activity. February’s price action offers opportunities for long positions, supported by additional technical indicators confirming the market’s direction. A significant confirmation of buyers’ presence in the market came with today’s TDI (Traders Dynamic Index) cross. The TDI cross, a widely-used momentum indicator, reflects strengthening bullish momentum. This confirmation aligns with the ongoing bullish structure, giving traders confidence in pursuing long positions on USDZAR. Such setups are especially valuable for traders monitoring currency pairs with volatile price movements like USDZAR. Adding further support to the buy setup is the presence of a clear bullish divergence. This divergence began forming on Friday, January 24th, and continues through the current market low. Divergences between price action and momentum indicators often signal potential reversals or continuation of trends. In this case, the bullish divergence reinforces the likelihood of price moving higher, aligning with the broader market structure. For precision in trade execution, traders should look for buy entries on lower timeframes. This strategy ensures optimized entry points while minimizing potential drawdowns. Target zones for profit-taking are critical for a structured trade plan. The first take-profit target for USDZAR is set at 18.59211 , providing an initial benchmark for closing partial positions or locking in profits. The second take-profit target, slightly higher at 18.67943 , offers a secondary level for maximizing gains as the bullish trend unfolds. Proper risk management remains a cornerstone of successful trading. Traders should assess their risk-to-reward ratios carefully, setting stop-loss levels to protect against unexpected market reversals. Managing position sizes relative to account equity is essential for mitigating potential losses while capitalizing on this promising USDZAR buy setup.
Long
by ezeepips
USDZAR moving up fast & breaking out with USD strength I mentioned in a publication today during the Asia session about how I see the continuation of the US-Dollar to continue to power and move through 106 soon like a knife through melting butter. This is a big reclaim its making on the Poland currency. I bought in recently as it crossed the 200EMA on the daily. The weekly chart price is powering up a double-top. It will break through this level, USD is gaining so much momentum and it looks to remain that way for the foreseeable future in my opinion. Gold under so much pressure despite still in a bull-run, lower prices to ensue this week for Gold. Cryptocurrency and the USD$ to power on. DYOR. These are solely my opinions. I formulate these ideas from charts and price history. I pick a direction. Last Friday I publicly announced here on TV that Gold and Silver would slide in a bigger way this week. It's happening and it will continue to happen because as I mention above, the USD$ is continuing its breakout over 106 soon. Cheers, Chris Daily chart below:
Long
by Easy_Explosive_Trading
USDZAR BULLISH TREND WILL CONTINUOUS TO 20.00 HI FRIENDS!! As we can see this USDZAR again near at support zone we have good chance to join the rally as we can see US $ is holding support and all major pairs. this pair is also holding a strong support and trading above a uptrend line zone, so our risk and reward ratio is fantastic on this pair let's see what markets brings its just a trade idea share Ur thoughts with us it helps many other Traders. STAYTUNED! for more updates
Long
by APEX_TRADING_ACADMEY
USDZAR | Weekly | UpdateLooking at USDZAR on our weekly chart we can notice that USDZAR has been failing to break to the downside as has been respecting our previously outlined levels. To elaborate further we can take note of the fact that USDZAR’s failure to break through our 17.50xxx Psychological level confirmed a new higher low on the pair after which it started rallying back up and is now trading above our 19.0xxxx price point; we can also take note of the fact that after USDZAR failed to break our 17.50xxx level creating a new higher low it gave us the opportunity to identify the formation of that bullish channel within our already existing long term bullish trend. Now looking to the right on USDZAR we can notice the possibility of it creating a new all time high between our 20.50xxx and 21.50xxx respective levels and considering the current economic climate in South Africa and the upcoming elections causing further instability in the ZAR so we could possibly see the USDZAR head towards these levels as we head into 2024.
Long
by mosa_moshka
3
BUY USDZARUSDZAR saw a strong surge of bearish movement this past week, which almost had me thinking price would crash to 17 points. Let us keep in mind that the overall trend for this pair is bullish. Here we observe that price is rejecting local support 18.4. H4 structure is not clear at the moment but from my experience, I predict a bullish flag which will break out using a double bottom to the upside 21+ points. For now, let us take profit at local resistance 18.7.
Long
by Technical_AnalystZAR
1
USDZAR TRADE IDEA: Long (24/07/2023)USDZAR is looking to reverse. It has clearly slowed its downwards movement and is looking to reverse up top to potentially continue its down movement. This was signified through its break of structure on the 4H chart. As shown on the 15 minute chart it has broken structure. The only worrying part is that it is returning back to break even. However this has the potential of a 7RR trade. NOTE: This is not financial advice, please do your own research and be aware that any risks are being taken solely by you, the individual.
Long
by saintprincevvs
1
USDZAR | Weekly | UpdateUSDZAR | Weekly Looking to the left on USDZAR based on my initial analysis, we notice that we he had a target for USDZAR at 21.2xxxx - 21.5xxxx after which we saw USDZAR rally all the way up to 19.93xxx creating a new high for the USDZAR we saw it fail to break above our 20.xxxxx psychological level. After failing to break above the 20.xxxxx level we noticed the ZAR “try” to recover it’s losses against the USD creating or current base as after falling from around 19.93xxx we can see the USDZAR finding support at 18.08xxx and bouncing up from there and currently trading above our 18.5xxxx Psychological level at 18.7xxxx. Looking to the right, if USDZAR fails to push down and break our support at 18.08xxx - 17.74xxx we can consider that area as our new base and we can expect the USDZAR to push further up and may potentially break our 20.xxxxx psychological level while still expecting it to head up to 21.2xxxx - 21.5xxxx.
Long
by mosa_moshka
TARGET reached for USDZAR unfortunately to R19.80!It was written in the charts. The USD ZAR formed the Symmetrical Triangle on the daily. The price consolidated and squeezed until it reached the Apex. Then because the prior trend was up, the breakout was up and lead to a continuation in the trend. The price then went to a dire R19.80! Let's hope it forms a Buy Side Liquidity order block for Smart Money to sell into and bring the price back down. But with what is going on with South Africa coalescing with Russia and with Eskom's issues, the confidence rate is dropping hard... Sorry South Africa. The most beautiful country with amazing people and the government is messing it up!
Long
by Timonrosso
1
USDZAR | Monthly Chart | Outlook USDZAR as we can see that it recently broke a crucial level around 18.50xxx during the course of this month creating new highs around 19.5xxxx. Looking to the right we can see the if USDZAR closes above 18.50xxx at the end of May, we can expect USDZAR to push further up to touch 20.50xxx - 20.70xxx before attempting to come back down to settle around 17.5xxxx - 16.2xxxx. Given the current economic climate of South Africa and all the challenges the country is facing, the overall out look still seems bleak for the ZAR and we can expect to see it weaken further against most if not all major currencies as it ventures further to new historic lows/levels.
Long
by mosa_moshka
7