ZAR
USD/ZAR 1H Chart: Bearish in short-termThe South African Rand has been appreciating against the US Dollar for three sessions after the USD/ZAR pair reversed from the upper boundary of a medium-term ascending channel at 15.65.
As apparent on the chart, the US Dollar has reached the weekly R1 at 15.04. In addition, the pair is pressured by the 55– and 100-hour SMAs. These two factors allow to think that the pair could aim for the support cluster formed by the weekly and monthly PPs near 14.45.
Meanwhile, technical indicators flash bullish signals in both the short and long terms. This means that some advance northwards may still occur until the upper boundary of given channel
Yet AGAIN a chance to jump on the USDZAR train!!!!!Set up for another chance on the USDZAR, Lower Low, and a Double top set up on the 30min. what do you guys think?
whatsapp: +27 78 864 5409
1W Channel Up in progress. Long.USDZAR is trading within a very aggressive 1W Channel Up (RSI = 67.499, Highs/Lows = 0.6399) with 1D trying to establish a new support (neutral ADX, Williams, CCI, Highs/Lows) near its Higher Low territory. Even on the event of such pull back, the curve will again support the upside movement. In both cases we are long with TP = 15.400.
[USD/ZAR] Cup & HandleA nice cup and handle pattern has formed on USD/ZAR. Look for a bullish breakout of the handle channel.
USD/ZAR 4hrRefer to weekly chart I posted to see zoomed out fibs. It rejected the .618 retrace after breaking pitchfork (intersecting trend lines).
USDZAR - 08/15Weekly!
As they try and expropriate land in South Africa, so they chase away any Foreign Investment.
Oh, SA is also an emerging market and follows Turkey and other countries!
Vacation to SA anyone?
ZAR/JPY 1H Chart: Rand towards senior channelThe South African Rand began appreciating against the Japanese Yen mid-July when it reversed from the senior channel circa 7.88. The rate peaked at 8.55 a few weeks prior to heading back lower. The Rand is currently testing the 55-period (4H) and 100-hour SMAs near 8.40.
If this support cluster remains intact during the following hours, it is expected that the pair continues appreciating towards the upper boundary of the senior channel circa 8.65.The nearest resistance is the 50.00% Fibonacci retracement at 8.55. A bearish breakout from 8.40 is likely to send the rate down to the 200-period SMA and the monthly PP at 8.23.
This area is expected to cause a reversal to the upside and a subsequent surge. The upward-sloping tendency of technical indicators suggest that the bullish scenario is the more likely option.
Sell USDZAR Monthly/Weekly/DailyLooking to sell, missed entry at market gap, any chance of retest of the high of this week, is a selling opening
Raising bearish wedge formation on daily. Look for reversal candle stick patterns during the week on retest of high on lower time frames such as h1 or h4
USD/ZAR 1H Chart: Breakout from channelAfter testing the senior channel at 13.10 two weeks ago, USD/ZAR initiated a new wave north along the bottom boundary of this pattern. This movement soon lost its strength, thus resulting in minor consolidation starting from the beginning of August.
The pair’s most recent development is a breakout from a strong resistance cluster formed by the monthly PP, the 61.80% Fibonacci retracement and the 200-period (4H) SMA at 13.43. The junior channel was breached along the way.
From theoretical point of view, this breakout should be followed by a surge, at least in the short term. The nearest upside target is the 13.80 level where the monthly R1 and the most junior channel are located. In case this appreciation does not occur, traders should wait for a fall below the 200-hour SMA and the senior channel that should confirm a price decline for a couple of session.
Channel Down on 1D. Early entry call for a short.EURZAR is just coming off a Lower High on the 1D Channel Down (RSI = 49.793, MACD = -0.062, Highs/Lows = 0). The support lines are highlighted with the blue dots and although we price the Lower Low at 15.100, our TP for the current short is 15.2200.
