USDZAR-SELL strategy 90MINThe pair has tried higher and failed, and will now likely return back to 17.6250 again.
Strategy SELL @ 17.7150-17.7350 and take profit @ 17.6350 for now. SL as usual your own preferences
USDZAR trade ideas
USDZAR SellWe remain bearish on the dollar index. USDZAR looks to be trading within a bearish flag. Q3 of this year started with good ZAR strength. This pair should continue downwards towards 16.9.
USDZAR-NEUTRAL BUY 6-hourlyThe pressure is on upside, and I see potential of break 17.7250. The stochastic and SMI are flat, but high, and indicates that overtime we may see pullback to 17.4450 again. Short term upwards first.
Strategy CAREFUL BUY @ 17.6050-17.6400 and place profit order @ 17.7800. SL based on your own risk appetite.
POSSIBKE SELLS ON USDZAR As my previous analysis of usdzar, I said it may form a double bottom at the top then continue with it reversals... it had reached the top and failing to break it.
POSSIBKE SELLS ON USDZAR As my previous analysis of usdzar, I said it may form a double bottom at the top then continue with it reversals... it had reached the top and failing to break it.
USDZAR-SELL strategy 3 hourlyThe pair has tried to move lower from the heights, but stalled around 17.5580 area and now we are attempting to move higher. Overall, I see move back towards 17.4950, but spikes may happen, as stochastic is positive (even high) and SMI is also overbought as well.
Strategy SELL @ 17.6350-17.6850 and take profit near 17.5150. SL based on personal preferences.
USDZAR-NEUTRAL SELL 6-hourly chartThe pair has climbed as expected, and it may even move higher, providing we can overcome 17.6450-17.6500 area. That is why am a neutral SELL because we have run up a lot, and I think OIL will recover back towards 73.50 and GOLD may stabilize above 2,630 area. The longer view is GOLD will correct towards $ 2,450.
Strategy SELL current 17.6200-17.6500 and place tight SL. Profit order somewhere 17.4950.
Strategy could also be BUY @ 17.5750 area and take profit near 17.6900 for those willing to range trade it a bit.
USDZAR-BUY strategy 6-hourlythe pair has moved away from 17.40s and we are on the verge of testing 17.5950-17.6050. Based on the overall picture, I feel we see 17.7800 being tested coming days.
GOLD is softer and may turn lower which will ignite the pair to go higher. Also the DXY may test 103.70 area, as per some analysts, hence more reasons to see it follow suit as well.
Strategy BUY @ 17.5350-17.5650 and take profit near 17.7350 for now (but monitor break of course). SL as per your personal preferences.
Buys on USDZARI forgot to update my last USDZAR Analysis posted on Saturday. I got bored reanalyzed it. Looking at it in the smaller TF like 4 hr, I saw that it failed to break the previous low it made and used my confirmations that helped to understand the the market has more probability to go to it previous high from, and maybe there it may reverse back forming double top and continue with sells, but for now I see buys.
Potential bullish rise?USD/ZAR is falling towards the pivot which has been identified as a pullback support and could rise to the 1st resistance which acts as an overlap resistance.
Pivot: 17.3355
1st Support: 17.1641
1st Resistance: 17.59060
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Further Sells On USDZARI'm back, took a little setbacks by managed to crawl right back up and looking forward to connect and hear from other traders their ideas. Let's get in to it. Looking at the weekly time frame, usdzar has retested a zone and reacted it now what's left is it to continue it motion downward until it riches the previous low it created.
Further Sells On USDZARI'm back, took a little setbacks by managed to crawl right back up and looking forward to connect and hear from other traders their ideas. Let's get in to it. Looking at the weekly time frame, usdzar has retested a zone and reacted it now what's left is it to continue it motion downward until it riches the previous low it created.
Trade idea - USDZAR Long4H
After missing out on 2 perfect trades on USDZAR, i'm trying to get involved in this new opportunity.
Corrective approach towards entry zone.
= Buy limit.
1.5% risk.
Aiming to take full profit at Daily TP.
USDZAR-buy strategy 90MIN chartThe pair is finding a base, and we may see some pull-back today towards 17.5900 before moving south again (see 3-hourly chart update).
Strategy BUY @ 17.5000-17.5200 and take profit near 17.6000. SL as per your own risk appetite.
USDZAR-SELL strategy 6-hourly chartI feel we may have room to lower levels. I would be a cautious seller. Reasons, we have lot's of SELL pressure 17.5300 area, and further, SMI and Stochastic negative.
Strategy SELL @ 17.5300 -17.5700 when seen and take profit @ 17.3850. SL based on your own preference.
USDZARas follows on the chart above my thoughts on USDZAR the market structure indicates we going bullish to take out liquidity was left behind.
USDZAR-SELL strategy 90MIN chartThe pair is trading quietly and of course for good reasons.
I feel that after the release of the CPI and inflation numbers, the pair will likely reach 17.5000 area before establishing itself again.
Strategy SELL @ 17.6300-17.6700 and take profit @ 17.5350 for now. SL as usual based on your personal preferences.
USDZAR-NEUTRAL SELL strategy 6-hourlyThe pair has reached its profit objective yesterday, and now am letting it rest a bit. I feel we may see slightly higher, but think 17.7350 area will remain a tough one to break for now. We are becoming slightly over extended on upside, and therefore we should have some caution.
Strategy is NEUTRAL SELL @ 17.7000-17.7350 area and take profit near 17.5350 for now. SL based on your own parameters.
USDZAR View!!South Africa's rand softened on Wednesday, ahead of the closely watched minutes from the Federal Reserve's September meeting.
At 1554 GMT, the rand traded at 17.6425 against the dollar
USDZAR
, about 0.3% weaker than its previous close.
The dollar index
DXY
last traded up about 0.3% against a basket of currencies.
"Dollar strength of late can be attributed to stronger economic data out of the region which is dimming the outlook of further outsized rate cuts this year in the world's largest economy," said Shaun Murison, senior market analyst at IG.
USDZAR Technical Analysis UpdateI've applied a Fibonacci retracement to the strong bearish momentum on the USDZAR pair. The Fibonacci levels are acting as resistance, or what I like to call the "defense lines." Currently, the price is hovering around the final bearish defense line. If this level is broken, I anticipate the price moving higher towards the next resistance at USDZAR 18.000.
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#ForexTrading #USDZAR #TechnicalAnalysis #InvestmentOpportunities #ForexCollege
USDZAR SHORTUSDZAR SHORT
The USDZAR movement refers to the changes in the exchange rate between the US Dollar (USD) and the South African Rand (ZAR). It indicates how many South African Rands are needed to buy one US Dollar. The movement is influenced by factors such as interest rates, economic data, political stability, and global market trends. A stronger USDZAR rate means the Rand is weaker relative to the Dollar, and vice versa. This movement is closely watched by traders, investors, and businesses involved in international trade with South Africa.
#XpensiveTraderSA
USDZAR-BUY strategy 6-hourly Heikin AshiThe pair has moved higher as expected, however, some caution as pullbacks may happen.
The Ichimoku support is 17.5200 and as long we remain above it, BUYERS will dominate.
I feel we may see 17.6650 test, and there after some correction back 17.5300. Ovrall we may see 17.8500m area in medium term based on daily chart.
Strategy BUY @ 17.5400-17.5750 and take profit near 17.6750 (for spike) and SL as per your own wishes.
USDZAR-BUY strategy 3-hourly chart Heikin AshiIt feels we may see little higher again. The pair failed to move below 17.3600 dramatically, and GOLD declining helps the underlying bidding of the pair. BUY volumes are increasing and that way it feels we see 17.5200 test.
The medium-term picture is still negative overall.
Strategy BUY @ 17.4350-17.4600 and take profit ear 17.5750 for now. SL based on personal risk appetite.
