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U.S. Dollar / South African Rand

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USDZAR trade ideas

Bullish reversal off 50% Fibonacci support?USD/ZAR has reacted off the pivot which has been identified as a pullback support and could potentially rise to the 1st resistance. Pivot: 18.2155 1st Support: 18.1280 1st Resistance: 18.4373 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Anticipating a dropPrice has been bullish until the 4h fair value gap got triggered at 18.50000. Now we have a bearish sentiment, because price swept the 4h liquidity before the mitigation. To strengthen this scenario price has cleared the swing low to give us displacement, we are now looking for a flip that will make a sweep and simultaneously mitigate the rejection block at 18.38950 for bearish positions. This rejection block resonates with our 4h fair value gap, however, we should be wary of the unmitigated zone above. Fundamentally USDZAR is expected to trade at 17.00000. Looking to risk 600 pips in order to accumulate 3000 pips…
by tokelohomi
BULLISH IDEAHello everyone, we're trying to combine some strategies and all this is to try and perfect our entries, minimize risk, and multiply our rewards. Currently, we think that the market will touch the ascending trendline and drop down for what looks to be a wave 2 correction, and thereafter a long trip to the upside. Am not advising anyone to take this trade yet but let's keep watching for what we think will happen as the market unfolds. Until then, stay safe, and may them nice setups appear before your screen so that we all WIN. nice trading.
Long
by Evaristos
USD/ZAR: Bullish Outlook Amid Demand AreaThe USD/ZAR currency pair is showing signs of recovery as the US Dollar gains ground against the South African Rand. Our analysis has identified a significant demand area where the price is currently experiencing oversold conditions. This setup presents a compelling opportunity for a long position in the USD. Non-commercial traders, often regarded as more informed participants, are currently holding long positions, indicating their confidence in the USD's potential to rise. In contrast, retail traders are pushing the price lower, which often suggests a contrarian opportunity to go long. Moreover, our analysis aligns with the seasonal patterns of this pair, which historically show a tendency for the USD to strengthen during this period. Seasonality adds an additional layer of confluence to our bullish outlook, enhancing the reliability of our technical and sentiment-based analysis. Given these factors, we are closely monitoring the price action for a confirmation of support in the identified demand area. Once confirmed, this would provide an optimal entry point for a long position in USD/ZAR. The combination of oversold conditions, bullish non-commercial sentiment, and favorable seasonality creates a robust setup for a potential upward move. In conclusion, the USD/ZAR pair is poised for a bullish reversal as it recovers from oversold conditions in a key demand area. The alignment of technical indicators, market sentiment, and seasonal trends suggests a strong case for a long position. Investors should watch for confirmation signals to enter the market and capitalize on the anticipated rise in the USD against the ZAR. ✅ Please share your thoughts about USD/ZAR in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
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