Usdzarshort
USDZAR approaching support, potential bounce!USDZAR is approaching our first support at 6.6135 (horizontal swing low support, 61.8%, 100% Fibonacci extension) where a strong bounce might occur pushing price up to our major resistance at 6.7134 (horizontal swing high resistance, 61.8% Fibonacci extension, 23.6%, 50% Fibonacci retracement).
Stochastic (34,5,3) is also approaching support and seeing a bullish divergence and we might see a corresponding bounce in price.
USDZAR shortFX:USDZAR
1. Lower highs formed
2. Resistance holding
3. Consolidation at resistance (bulls out of steam?)
4. 200ema broken
5. Targets from 14.11 to the 13.90's
SL 14.63030
TP1 13.90285
TP2 13.60857
TP3 13.37187
Entered at market price 14.33650
USDZAR setupThis is my view on USDZAR. Not my favorite pair but right now there is good opportunity, also need chart pattern conformation.
Possible short on USDZARFX:USDZAR
1. Lower highs formed
2. Resistance holding
3. Consolidation at resistance (bulls out of steam?)
4. Targets from 14.11 to the 13.90's
Looking to short when the time is right, more details to follow...
USDZAR setting up for a possible short FX:USDZAR
Ah, I have been watching this pair for a couple of days and it looks like we may just have a possible short setting up.
* Price is currently in a down trend in the bigger picture
* Hanging man (hammer at resistance) candle completed (sell signal)
* Bearish candle currently printing (needs to close bearish for confirmation of sell signal)
Should this move play out we could see price hitting the 13.85 level and possibly lower
Essentially a sell stop under the hanging man and confirmation candle can provide an ideal entry.
USDZAR Long Term ShortI have interpreted what the different timeframes are telling me and I can surely say the way I translated it with the use of the arrows, is how price will play out before dropping like a rain drop. Follow the arrows to make some serious profit.
Its me Rayan, the 18 year old trader from South Africa, signing out.
USD/ZAR Short IdeaUSD/ZAR lots of fundamentals in play; outcome of US elections (Democrats took the house) is good for the rand; Rand outlook is improving overall economically. Looking for rand to strengthen and hit next key level. Price is currently sitting a key level in the market.
USDZAR approaching support, potential bounce! USDZAR is approaching our first support at 6.7169 (horizontal swing low support, 61.8%, 100% Fibonacci extension, 23.6% fibonacci retracement) where a strong bounce might occur pushing price up to its resistance at 6.8762 (horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (21,5,3) is also approaching support and we might see a corresponding bounce in price.
USDZAR SHORTThis is a nice downtrend on USDZAR showing a potential closed triangle pattern. ZAR is gaining strength driven by the R290 Billion investment acquired by the president of South Africa.
USDZAR approaching resistance, potential drop! USDZAR is approaching our first resistance at 6.8550 (horizontal overlap resistance, 23.6% fibonacci retracement) where a strong drop might occur pushing price down to our major support at 6.7253 (horizontal pullback support, 100%, 61.8% fibonacci extension, 23.6% fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price .
USDZAR - Daily Key Elements Key levels to look out for, please refer to 4 hour chart for strategic view!
USDZAR ShortClassic Head & Shoulder Pattern
Wait for the neckline to be broken, a candle must close with the neck line broken - that's the signal candle.
Share your thoughts!
Let's Play in the Rain - Short USD/ZARSometimes it's fun to get a little bit wet, don't you think so too!
USDZAR Head and shoulders patternPrice target is as shown. I will wait for the neckline to break. Most emerging market currencies are set to win value against the dollar.
Short opportunity on USDZARUSDZAR look interesting. If the count is correct, we might go down to 12.80
USDZAR - D1Looking at this exotic pair, I believe it has the potential to go bearish but that will depend on whether the retest goes our way.
I believe that this trade will become bearish. Your Stop Loss should be set just above your recent high at 14.74 with your first Take Profit set at your first resistance/support line - 14.11
PLEASE FOLLOW AND LIKE MY IDEA, ALSO CHECK OUT MY PAGE FOR DAILY UPLOADS.
USDZAR Short IdeaTrend line break, pullback, continuation. Bounce off the 61.8% fib retracement. 14.2 is key price level.. This idea is for demonstration and educational purposes only. Trade at your own risk
USDZAR Possible GOOD short formation.If trend holds, after the "double top" we have just seen at 19:45 GMT+2, we could see a NICE drop down to 14.00200.
PLEASE LET ME KNOW WHAT YOU THINK?
Whatsapp: +27 78 864 5409
USDZAR Short opened with T1 @ R14.20 and T2 @R14.00Hi Guys, We broke down the daily uptrend today on USDZAR after another failed and shortlived rally passed that briefly passed R14.75 and R15.00 with big sellers coming in again to drive the price under R14.75. We broke under the uptrend today and sitting at a support level stable for now. A break below R14.50 and sellers should enter with some support at R14.40 but doubt that will hold. Strong chart support sits at R14.20 and then R14.00. I think we will see some choppy price action around R13.90 to R14.20. R14 tends to be 61.8% as well so its a good area to bounce on.... The RSI seems to be overbought based on the history not going too high so a pull back is in order there as well. Worst case scenario if this breaks well under R14.00, then this could test the breakout (yellow line) But I think R14 is going to be super strong with lots of new buyers...well at least for now. Good luck (This is just my thoughts as to what I will be watching this week) and do your own research. Happy Trading Y'all!!!
