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Euro / South African Rand

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EURZAR trade ideas

Bullish Momentum Building on EUR/ZARStarting with the price structure, EUR/ZAR has been forming a series of higher highs and higher lows, indicating an uptrend in progress. This pattern suggests that buyers have been gaining strength, consistently pushing the price higher after each pullback. This type of price action often reflects a shift in market sentiment towards bullishness. Adding to the bullish case is the presence of a trend line, which acts as a dynamic support level for the price. This trend line connects the higher lows and confirms the upward trajectory. As long as the price remains above this trend line, the bullish bias remains intact. Furthermore, the recent breakout above a significant resistance level adds further weight to the bullish scenario. A break above resistance signifies that buyers have overwhelmed sellers, potentially opening the door for further upward movement. This breakout could also attract additional market participants who were waiting on the sidelines, thereby amplifying the buying pressure. TARGET 1 : 20.9321 TARGET 2 : 212674
Long
by UnknownUnicorn48526553
EURZAR Weekly ShortI drew this pattern a few weeks ago and it's good to see that price has conformed to the pattern. Being a pattern found on the weekly timeframe this level can get tested a couple of time over a number of weeks. The most ideal thing to do is to catch the trade on lower time frames fist analysing the D1. You are basically looking for signs of price divergence over a long period of time. Because this is a very volatile pair, you might see an initial moving away fron the peak and thena violent stop hunt towards the peak just to stop out premature entries and to induce buy entries before the final Downtrend begins. Take care.
Short
by harveygoldfx
1
EURZAR H1 Bearish Cypher EURZAR is currently in a Weekly order block. We have vector candles showing a decisive three pushes to the current low. RSi and TDI should read lows and Shark Fins in this region. Look for a Head and shoulder pattern to enter long toward the 70.7Fib retracement of the XC leg. Usually pattern failure may occur around the Fib level around the 19.5100 level. If failure occurs then we look to go short at this region until an ABCD pattern is formed as shown. If price manages to breakthrough to complete the cypher pattern then we are looking at minimum two pins to this region before we enter short. M15 may show significant divergence and a close ofprice below EMA 13 would signal a good entry.
Short
by harveygoldfx
EURZAR Bearish CypherA bearish Cypher on the Weekly timeframe is near completion. Price is currently within a Weekly order block and we will most likely see a lot of trapping behavior in this region. This area is arrived at after a very long bullish trend and so as a result we will most likely find a build-up of both institutional volume as well as day-trader volumes. On the daily time frame, the final bearish trend will only be signaled by a noticeable pattern such as a double top, head, and shoulder pattern with significant confirmations around the AoI- Area of Interest. Please note this is a long-term projection and positions for holding long can only be held after the Daily time frame shows the noticeable pattern.
Short
by harveygoldfx