Short term EURZAR VIEWeither the current wave is an "a" of a potential zigzag in the short term or an '"x" for an "z" movement downwards before we see some improvement in price...but overall, the right side a trader can take is a short based on our minor and primary trend expectation(see related chart below)
EURZAR trade ideas
Eur/Zar Potential Complex "B" waveIf you did not already get the first sell level I posted, or if you are in it... Watch out for an ending diagonal which would measure out perfectly to the 1.236 extension. From there, we may get a head and shoulders or flat type structure which could then turn into a WXY structure for a complex "B" wave. I suggest you watch the short video I posted on my channel. Link below. I do see some nice downside coming but that doesn't mean we can't get something to double top or break the high, but I see the sell as the next move.
Eur/Zar-DailyRefer to the monthly chart. I'm looking at a "B" wave. 1-4hr divergent looking like sell. I just wanted to point out that Eur/Zar could do one more up for an ending diagonal, which would take it to the 1.236 extension. If it did that, for risk purposes, I think that would be a better level to look for the swing. It is coming off the 27 percent extension of 1st wave along with equal length right now. It can come down from here, but protect any profits and be careful until we actually get a reversal..
Eur/Zar looks to be in "B" waveThe weekly and daily are both way over extended. It is also way over extended from monthly bollinger bands (see TDI turned into price currently here on monthly). We can get a running flat here, but if it goes down to break the low that could take us to the 13.00 level possibly. At a potential reversal spot now. But keep in mind this is the monthly chart.
EUR/ZAR potential shortI'm Looking for a possible double top formation on this currency pair. the reason is because it has had a huge run and is now at that supply level. if at the open the market tests the highs but is unable to make higher highs then I will take the short, risking a few pips above the highs.
EURZAR 4hr bearish bat pattern short opportunityThe USDTRY party was just too crazy.
EURUSD already breaks 1.1500 to let the bears celebrate their victory a lot;
Meanwhile, there are still pairs that EURO is stronger like this EURZAR.
Here we got a bearish bat pattern near 16.08, I'll be willing to wait for reversal sign there.
Still this is a pair with abundant interest, so looking for potential short trade is acceptable although ZAR is also so weak.
Let's see how it goes!