Usdzarshort
USDZAR SHORTPrice is at the support zone , and want to see price act on it and go bullish to the previous support that turn resistance @17.3800, or get higher to the 17.5200 zone then price might reject at that zone and sell to 17.05800 zone, but the zone I expect price to likely reject is the 17.3800 zone.
South African Rand in no mans land but can strengthen soonIt's been an interesting development with the USDZAR.
Since it broke out of April's uptrend, the price is now retesting the resistance (which was support).
I suspect that the price will be oscillating between the range of 17.63 and 16.91 in a box formation for a few weeks.
Only if the price breaks above or below, will we get some sign of where the rand is going.
For instance, if it breaks below, it would have formed an Inverse Cup and Handle showing major downside for the USD to come (which we can hope for).
If the price breaks out, the fakeout will spook the bears and the price will run up to ATH...
I'm bearish overall, but only time will tell.
USDZAR top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
The rand is going up FINALLY! Target R15.92 - With confusion!Rounding Top (Scallop) has formed on the daily chart.
The price has broken below the neckline which signals bearish for USD
Also the moving averages are almost looking good.
21 > 7 >200 - Bearish
First target R15.92
The correlation between the Rand and the JSE stocks have somewhat reversed as of late. When stocks rise, the rand tends to strengthen and vice versa.
Now this makes sense in a way that a stronger rand means more buying power for consumers and more confidence in the economy.
However, we are a HIGH export country where we export in US dollars. As the heavy weightings of the JSE is with resources, we used to fall with a weakening US dollar.
Also, we tend to mirror the S&P500 and the DOw Jones as it's a leading indicator.
So the question we need to ask is... Is America signalling that we are in for massive downside again soon and this has just been a bull trap for us buyers.
OR is this the change in correlation where the JSE will continue up despite what happens in America and the US Dolla.
I Hope the latter.
Things aren't as they always seem.
USDZARmoved as we predicted
running in verey good profit now
price action is best way to analz markets till today
USDZAR possible sell zone!USDZAR has formed a strong bearish price action with strong liquidity grab from the resistance zone. The price already over extended in the higher timeframe and likely to reverse to complete a healthy retracement to the downside.
as the price started it's downtrend, a sell trade is high probable after retesting the previous support turning resistance.
USDZAR top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Market update USD/ZAR Simple market structure & price action, i'm currently waiting for a Retracement before we look to go short
We are currently in a strong uptrend however we can clearly see that we are approaching a major resistance zone where we might see sellers take over the market,
(MY CONFIRMATIONS)
CHANGE OF CHARACTERISTICS (CHOCH)
BREAK OF STRUCTURE (BOS) I'M CURRENTLY AWAITING MY BOS TO PLAY OUT BEFORE GOING SHORT
pay attention to price action.
USDZAR SHORTSubscribing to the institutional order flow concept, the analysis on a weekly timeframe shows a CHOCH and a BOS. The pair has retraced to the FOB(Black horizontal line at 18 levels). In the interim I will be looking for CHOCH and BOS on the 4hr for entry targeting the 14-15 levels alternatively targeting the 13 levels. Kindly note we hold trades for extended periods.
USDZAR possible sell zone!!USDZAR (4h) has formed a very strong bearish price action after a rejection from the weekly resistance. Price currently has formed a strong head & shoulder on the 4H with a breakdown from the neckline. On the retest of the neckline, a sell trade is a high probability after rejection.
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USDZAR Bearish outlookUSDZAR has been moving to the upside in a corrective manner and finally reached our 60% fibonnacci level. USDZAR has been correcting to the upside with a rising channel and our second touch we go a double top which is an overide of the third touch we were expecting.
Entry; wait for an impulsive push outside lower timeframe ascending wedge and look for a continuation correction on lower timeframes to enter sells
USDZAR | RISING WEDGEUSDZAR has been trading in a rising wedge. Recently the wedge has been broken but horizontal support is holding the level.
We are expecting a breakdown if the horizontal level is broken and the target is around 16.9
Trade your levels accordingly.
Watching for USDZAR to break resistanceThe USD/ZAR rallied with eagerness after it went down to a significant demand area at 16.20000. Now, the price has entered a short period of consolidation, as traders anticipate this Friday’s speech by the US Federal Reserve Chair Jerome Powell.
The technical chart on the USD/ZAR daily timeframe suggests that a strong supply zone is currently present between 17.15 and 17.30. Breaking above this crucial area is needed to continue the rally, However, this may be increasingly unlikely as the daily candle wicks are now rejecting at 17.15.
The MFI indicator, which is a technical oscillator similar to RSI but uses price and volume in identifying the oversold and overbought conditions in an asset, shows that this crucial area was indeed a strong rejection zone, as highlighted in yellow. The MFI indicator is currently facing the mid-point of the indicator. Therefore, the USD/ZAR’s supply line at 17.15 may not be enough to suppress further upside.
Looking at the current price action, if the price fails to break above 17.15 and 17.30, and emphatically rejects at these supply zones, look for the price to potentially move to the downside and encounter the 16.20 demand zone once again. It will be interesting to see how investor sentiment (and the associated demand zone) holds up in the face of an emphatic downside break
A further break below that zone may induce a possible trend switch to the downside in a short-term period. However, we could also see consolidation between these supply and demand zones.
USDZAR POSSIBLE SELL SETUPUSDZAR POSSIBLE SELL SETUP, After the rally, we are waiting for a retracement to occur
USDZAR is in sell zone, UPDATED!!USDZAR ( 4h) is moving along a downtrend after rejection from the monthly top. Currently, the price has just completed pullback and now creating a possible bearish engulfer which upon close, could create another selling opportunity!
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USDZAR top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDZAR | BIG TARGETSUSDZAR has given a breakout from a bullish continuation pattern of cup-n-handle. The price since breaking gave a parabolic move and is expected to move more upside.
Alternatively, breaking below the breakout area will be all over for the bulls.
Trade your levels accordingly.
USDZAR OHLC (SELLS) MONTHLY STRUCTURE (JULY 2022)USDZAR OHLC (SELLS)
MONTHLY STRUCTURE
(JULY 2022)
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Monthly Structure for USDZAR in the daily timeframe is OHLC (SELLS).
A resistance will be formed the minute TDI Priceline and bloodline cross.
Bearish Divergence from May till current market price in July.
Patience, Long term runner Tp must be set at the Daily Open 16.32925 . Price is slowly getting into the sell pressure zone.
Waiting on a TDI cross to confirm the presence of sellers in Markets.
*3 VALID CONFIRMATIONS
~Market Structure = OHLC Sells
~Bearish Divergence = Sells
~Waiting on TDI cross to confirm Sells
Trade with Caution. Wait for valid entries.
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P A T I E N C E + D I S C I P L I N E
USDZAR | FLAG BREAKOUTUSDZAR has given a breakout from a bullish flag. If the pattern sustains the target will be 17.012.
The chances of upside are positive as it has crossed the horizontal resistance and retesting it as well.
Trade your levels accordingly.
