EURZAR trade ideas
ZAR gains against EUR after elections??Can we see South African Rand grow some Ba((s after the election and gain some weight, breaking this wedge will tell,
$EURZAROANDA:EURZAR
Symmetrical triangle in making break bellow 15.90 will be bullsih for ZAR.
Go mighty rand !!!
EURZAR SHORT ON THE HOURLY CHART ON THE 60 MINUTE CHART THE PAIR HAS FORMED A DESCENDING CHANNEL THAT ALLOWS US TO ENTER FOR A QUICK SHORT BEFORE THE PAIR HEADS BACK TO THE TOP AS IT IS ALREADY IN AN UPTREND ON THE 60 MINUTE . IT HAS TOUCHED THE RESISTANCE OF THE TREND LINE AND ALSO WE HAVE EXTRA CONFIRMATION FROM THE CANDLESTICK PATTERN FORMED AT THE RESISTANCE WHICH IS TWEEZER TOPS . ONCE THE SHORT IS FINISHED A BREAKOUT WILL BE EMINENT AND WILL HAVE A CHANCE TO GO LONG ON THE PULLBACK
EURZAR SHORT 60 MINUTE ON THE 60 MINUTE CHART WE HAVE A DESCENDING CHANNEL THAT HAS TESTED THE RESISTANCE OF THE TREND LINE AND A POSSIBLE REVERSAL IS EXPECTED CAUSE WE HAVE EXTRA CONFIRMATION FROM THE CANDLESTICK PATTERN WHICH IS TWEEZER TOPS TAKE PROFIT IS PLACED A LITTLE BELOW THE HIGH TEST CANDLESTICK FORMED A FEW DAYS BEFORE ALLOWS FOR A GOOD RISK TO REWARD
EURZAR short intraday/swing trade setupEURZAR short intraday/swing trade setup
Sell 15.73300
SL 15.84046
TP 15.60558 80% and trail the balance
Descending triangle broken to the down side, enter short on the retrace to .2360.5 fib zone
EURZAR - back to 38.2ZAR had a strong rally supported by fundamental news. I expect to see some profit taking, and change in positioning.
Technical:
- 20 EMA was broken on 2h with a backtest
- 38.2 Fib retracement is a clear T/P zone
EURZAR 1:3 Risk Reward SHORT (Fundamental + Technical Analysis)Zar
Fundamental Quant Score: +33
- Retail sales grew to 1.2% showing consumer confidence in South Africa
- PPI breached forecsats by 0.1% which is healthy for producers
- Interest rate decisions had no signs of dovish action so investor money flow should continue flowing into South Africa
- Trade balance showing a huge surplus
Technical Analysis
- Daily Sell zone
- Daily hammer head/ evening star formation
- Rejection from the current zone shows big money flowing out the EUR and into ZAR
- Wait for a 4HR lower low then a retrace to confirm the move ad possibly enter in that region depending on the fundamentals and technical outcome
Some good signs for ZAR and EUR has continued to weaken the past week
EURZAR long intraday/swing trade setupEURZAR long intraday/swing trade setup
Buy limit order at 16.36359
TP 16.50479
SL 16.25293
If price fails to trigger the buy order I will close
