USDZAR Morning Setup USDZAR Setup we are expecting price to bounce back from our POI because it's been respecting it
USDZAR trade ideas
USDZAR-SELL strategy (cautious) 4-hourlyThe pair is election results driven and also awaiting developments to coalition etc. However, the run up was strong, and the GANN resistances are also playing part and including stochastic, for movement back towards 18.5000 area again.
Strategy SELL @ 18.7500-18.8000 area and place SL @ 18.8850 for now. Profit order @ 18.5150.
Dust still far from settled post SA electionsThe rand managed a strong recovery to a low of 18.02 in the lead up to the national elections. This move was largely due to the strong precious metal prices, particularly platinum, and the dollar which remained relatively range bound.
The critical resistance levels to watch are the 200-day MA at 18.77 and the 61.8% Fibo retracement rate of 18.87 (very satisfying kiss off the blue neckline and the 61.8% Fibo). A failed break above these levels will allow the rand to recover some of its election losses towards the support rate at 18.55. Continued political uncertainty regarding the new coalition government will however see the pair break above 18.87 and hurtle towards the yearly high of 19.40.
Over the slightly longer-term, a favorable political outcome following the coalition negotiations will attract foreign capital back into the local market which will allow the rand to pull the pair below 18.00 at the back of the year (best case scenario for the rand).
USDZAR-SELLstrategy (cautious) 4-hourlyThe pair has moved according to my expectation. We spiked, but higher then my profit target, which was met and had slightly better outcome around 18.6750. we moved between 18.5650-18.7500 area and that is where we are stationed now.
Strategy is SELL @ 18.7350-18.7950 and place SL above 18.8150 and resell when near 19.0000. Profit order @ 18.5350 for now.
USD/ZAR movement June 2024
Double header spotted which creates a slow moving but bearish environment for the short term. Resistance at anywhere between 18.75 to 18.78, looking for movement back towards 18.20s.
Have a great weekend !
Usd/Zar Sell IdeaIts making huge swings up and down but my indicators are saying sell it now!
It made a double top on the 1 hour time frame.
I sold with 3 small positions with my stop loss above the double top on h1, and gave it a little extra room to breate!
Its a swing trade idea for me and im just gonna try to hold 3 small positions for a new swing down that could take weeks
USDZAR-BUY strategy (cautiously) 4-hourly chartThe pair has indeed moved higher on expectation. Elections results are looming and has driven the pair higher. I feel we may see further increase and perhaps test of 18.5350 area en route 18.7500.
Strategy BUY @ 18.4150-18.4500 and place tight SL around 18.3450. Profit order @ 18.6750 for now.
USDZAR POSSIBLE SHORTThe pair has been trading inside a falling channel and it has respected this channel for sometime now. The price recently testing the support of the channel.
Looking for possible entries if the price clearly rejected from this zone.
Please do your own analysis before placing any trades.
Cheers and happy trading !
USDZAR-BUY strategy Daily chartThe pair is moving within a false bear flag pattern, and eventually we should breakout upwards. Considering the elections, this may be the catalyst for it.
Strategy BUY @ 18.2350-18.2900 and place SL below 18.1450 for now. Profit order @ 18.5350.
Usdzar bearish trend continuationOn our first shared idea, we had a fresh Supply as a trading zone. However, after reaction to the demand, price failed to change character, instead continued to break the demand. Which leads us to having a new sell opportunity at the fresh supply targeting the swing low.
Risk to reward is approximately 1.11
USDZAR-BUY strategy 4-hourlyThe pair has declined as expected, but considering the stochastic, turning and low levels, plus elections today, I feel we are on BUY side today.
Strategy BUY @ 18.2750-18.3150 and place SL below 18.1750 and take profit @ 18.6350 (for potential spikes).
Buy USDZARElection day,buy this pair hard. We are expecting a lot of volatility with this pair.
Goodluck
#1Boy
Usdzar Possible Short setup🤝we have a new trend forming with recent break of Structure to the downside. Price is coming from an unmitigated supply zone and caused change of character. We have 1 hour fvg. Entry take profit is the last low.
The 2nd is the Swing Structure as i indicated
This is a trade setup but also an educational post. I post these doe backtesting purposes. I wish to see how far I have come in the next 5 years. If the setup works and you took a trade, goodluck. If it doesn't, it's part od the game.
✔️ Let's see🕣👁️
USDZAR-SELL strategy 4-hourly chartThe pair remains under slight pressure, while the precious metals are holding up a bit.
There is plenty of room on downside, and since we are protected @ 18.4650 and 18.5800 estimated, we should be on SELL side for now.
Strategy SELL @ 18.3800-18.4350 and place SL above 18.5900 and take profit near 18.1850 for now.
USDZAR - Falling WedgeWith a confluence of bullish divergence USDZAR is making a falling wedge pattern, that is highly likely to break-out a strong bullish move.
USDZAR-SELL strategy 4-hourly chartNo change in view. I feel we will see lower levels for the pair, as the stochastic is negative and we do have ample room downside. The wide range we currently are in, is between 18.5750 and 18.0000. GOLD is lower, and think we remain around those levels for coming sessions, and therefore we may see lower levels again for the pair.
Strategy SELL @ 18.3500-18.4350 and take profit near 18.1850. SL suggest above 18.5750 for now.
USDZAR Short trading opportunity(swing-trading) 5I expect a swing of about 70cents+- all the way down to R17.50+- per dollar, expecting the ZAR to strengthen in the short term within a month or so to 17.50+-.
If the USA Federal Reserve starts cutting interest rates or at least give solid indication it is about to soon then it could signal that the dollar might weaken a bit for the ZAR to strengthen against it as massive amounts of money moves around, the South Africa presidential elections although more chaotic this year still seems to put the ANC in favor, and generally in the short-term (or rather more than 50% of the times) the elections have had a positive effect on the ZAR in the short-term.
My only risk here is that if the target is not reached I will have to move money overseas in a more unfavorable conversion ratio, so I am not risking money directly but rather in a way indirectly.
USDZAR-SELL strategy 4-hourlyThe pair made further highs and it did not change my overall viewpoint.
We are overextended short-term and pullback is expected.
Strategy SELL @ 18.4500-18.4900 and take profit around 18.2350 now. SL is up to the risk appetite, but feel @ 18.5950 a possibility, but noting it would still be a SELL up there. Of course we need to be financial management profits and losses.
USDZAR-SELL strategy 4-hourly chartThe BUY strategy has paid-off and indeed we move north swiftly due to the precious metals corrective action. In how far this may go, will provide guidance on our pair.
My feeling is stochastic is extending far out, but it is possible, we may move little more higher towards 18.35-18.3900 area before a decline may set in again.
Strategy SELL @ 18.3650 - 18.3800 and place SL above 18.4750 and take profit @ 18.1450.
looking at shorting opportunitiesUSDZAR WEEKLY chart
We have been in a bullish trend and price made a new all-time @19.92392 high which is relevantly close to the pre.high @19.35768. Price is currently consolidating at this price level of pre.high area.
We now have to pay attention to price behaviour at these minor swing areas for signals to take trades from. We have two key HL areas to look for buying opportunities from respectively:
18.10895 Which is unlikely to hold as price has retested this area previously several time & 17.42504 as this is a fresh area we expect price to rally from this area. This rally will be fuelled by the increase in positions of the sells that will enter the market as price breaks out of the consolidations low and signal a change in trend. We will be looking for selling opportunities to get price to the untested minor swing low @17.42504 for better buying trades and considering the gold relation with the Zar currency. We want to see gold maintaining its bullishness for this to take place and for the US dollar to be weak.
USDZAR LongI am expecting this pair to shoot to the up side, since the price is currently on my major level and aside that, if you can also see the pattern I am seeing then we should be having same bias {H&S Pattern}. Here is just my point of view, not meant for anyone to comply with.
USDZAR-BUY strategy 4-hourly chartNo change of view really. The daily chart (not shown) suggests we may see move back towards 8.5750 again. The 4-houlry is battling moving higher, but coupled with the precious metals recovery down, I would see 18.4350 for 4-houlry possible for now.
Strategy BUY @ 18.1650-18.2150 and take profit near 18.3950 for now. SL below 18.0750 I feel.
