ZAR - long-term downtrend
We have a long-term downtrend. For sale, we can use rollbacks up or models to continue the downtrend.
Usdzarshort
ZAR to strengthen - bearish trend to continueThe South African Rand seems to gain some traction against the greenback. It's expected that the South African Rand will strengthen to approximately R12/$. There is a possibility of a retracement to the support turned resistance at 13.2000 level which also corresponds with a 50% Fibbonachi retracement level on the 4 hour chart. If it doesn't pull-back, I'll short when it passes through 12.9000 again
USDZAR SHORT (TARGETS 13.00)Fundamentally Bearish ZAR, Bullish USD (see realted idea )
However, we have a rencent lower low and what looks to be a USD bearish 5th wave.
Therefore, its a 13.81 sell for
- TP1 13.40
- TP2 13.25
- TP3 13.00
3x reversal above 14.10 forbreakeven and profits into 14.30
USD/ZAR Shorting the shortWe already got a pretty good entry earlier but now we are looking for another entry cause we believe this will be going lower for a while. This will be the last entry on this pair and will be leaving it for now.
USDZAR Potential Short Position (1Hr Time frame)Potential Short position as trend retests area of resistance and begins bearish move as indicated by ADX
USDZAR short term sell idea.The Daily chart shows a bullish convergence. We now need at least a double wave retrace before price wil complete the second part of this double wave cycle.
Price reached 100% FE of the last cycle upwards exactly on a strong Daily resistance level and potential divergence. As long as this resistance holds look for sells aiming 50% FR of the last cycle.
Sell the breakout of the yellow TL targeting 14.8.
SL 2 pips + spread above last high.
