USDZAR trade ideas
USDZAR Double confirmation sell signalThe USDZAR pair is trading above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), on a strong consolidation phase as it approaches the end of an 8-month Triangle. Having been rejected last week very close to not only the Triangle's top but also the (dotted) Channel Up top (Lower Highs trend-line), we have a strong short-term sell signal in our hands. Our Target is Support 1 at 18.555.
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Usdzar long sell reversal Looking at USDZAR which on point 19.00226..
If you can take I clear look on the previous 4hour candle stick has hit our support..which means it has confirmed our reversal.on the 24th of Jan 2024 we had a reversal exactly on that point..
Our tp1 will be on point 18.83063
And our tp2 will be on point 18.857289
Our last to which is tp3 will be on point 18.23294
Possible buy OppertunityPrice has found support and is at the bottom of the Keltner channel, price also has pushed below EMA's which is a good entry in my opinion. Overall price is still in a downward trend on the 4h but it seems price needs to push up first. RSI still negative but close to the mean and stoch RSI is overbought on 4h
BULLISH USDZARAwaiting a breakout of the bullish channel and price could hit targets; 19.20 or 19.50.
USDZAR BULLISH TREND WILL CONTINUOUS TO 20.00 HI FRIENDS!!
As we can see this USDZAR again near at support zone we have good chance to join the rally
as we can see US $ is holding support and all major pairs. this pair is also holding a strong support and trading above a uptrend line zone, so our risk and reward ratio is fantastic on this pair let's see what markets brings its just a trade idea share Ur thoughts with us it helps many other Traders.
STAYTUNED!
for more updates
Four steps to success Day trading using moving averages can be an effective strategy for identifying trends and potential entry/exit points in the market. Here's a four-step system for day trading using moving averages:
Bearish PossibilityIt seems price is not breaking resistance and should drop a bit. 1h and 4h is overbought and at the top of the keltner channel
USDZAR-SELL strategy 4 hourlyThe pair went went quickly higher on the back of GOLD decline. the stochastic is positive and still has some more room, and considering GOLD weakness, likely we will see the pair trending higher a bit.
Strategy SELL @ 19.1950-19.2250 and place SL above 19.3150 and profit order @ 18.9750.
Daily: Rand(ZARUSD)Based on the previous idea this is what i was referring to.
check the related ideas section.
USDZAR-NEUTRAL strategy 4-hourlyThe pair did not move higher as I felt it may have, and instead stalled and mover lower to the 18.9300 area. The SL was activated, if short, and now we observe and see coming sessions what direction it will take. The triangle upside was respected and violated on the down side, and stochastic is negative and mid-way now.
Overall strategy play within the 18.6350- 19.1250 band for now.
USDZAR: some rand weakness until elections?A price action above 18.95 supports a bullish trend direction.
Further bullish confirmation for a break above 19.20.
The target price is set at 19.50.
The stop-loss price is set at 18.70.
Remains above its 200-day simple moving average supporting a bullish underlying trend.
USD/ZARThe South African dollar is one of the most attractive currencies traded in Forex.
According to the news of consumer inflation in the United States, the selling position is likely.
(This is just a personal opinion)
#USDZAR
USDZAR-BUY strategy 4-hourlyThe pair remains up in the air, and we are near the triangle breakout above 19.0600. Stochastic is still positive and high, but the way it seems to hoover, suggests we may see a sudden spike upwards.
Later we can SELL again, but for now, I am not confident on decline right now, and GOLD is staying on the low side.
Strategy BUY @ 19.0300-19.0500 and place SL below 18.9450 and take profit @ 19.1950.
USDZAR-SELL strategy 4-hourly chartthe pair is trying to maintain the 19.00s but feel we still have a chance for lower. The triangle break will determine where we will go, but judging stochastic, I feel south still possible, but keeping SL very tight in case wrong.
strategy SELL @ 19.0100-19.0500 and place SL above 19.0975 for now. Profit order @ 18.7350.
Testing critical levelThe pair is currently testing the 61.8% Fibo level at 18.97 and we have the psychological resistance rate sitting at 19.00. A break above this resistance range will see the rand slide to the top end of the current blue downward trend line which coincides with the red resistance range between 19.15 and 19.30.
A failed break above 19.00 will allow the rand to pull the pair back onto the 50-day and 200-day MA rates at 18.73 and 18.75, respectively.
Fundamentally, commodity prices, particularly platinum have had a sluggish start to the year which is rand negative. Additionally the dollar has remained solid this week while markets digested last weeks FOMC and strong non-farm payroll prints which also does not bode well for the vulnerable rand. For now, I remain on the fence as long as the pair sits in this big wedge illustrated by the blue trend lines.
Technically the RSI still has room to move higher before entering the overbought zone which is not rand supportive. A cross of the 50-day MA above the 200-day MA is also on the cards which is technically a 'golden cross' and rand negative.
USDZAR-NEUTRAL SELL strategy 4-hourly chartThe pair has climbed as expected, but not with much power. Gold is holding well as well.
I am neutral here, but suspect we may move little lower again.
Strategy SELL @ 18.9500-19.0100 and place SL above 19.1150 and profit around 18.7350.
USDZAR-BUY strategy 4-hourly chartThe pair looks it is poised to move higher coming sessions. Stochastic is positive and I think had sufficient correction.
Strategy BUY @ 18.7800-18.8250 area and place SL below 18.7150 for now. Profit order @ 19.0350.
USDZARFor the past 12wks I have left this pair because it has just been giving me the headache because I couldn't tell what the market was doing so I left it but now the market potentially seems to be giving us a Bearish setup and I will patiently wait for it to mature.
VHT YOUR MENTOR SIGNING OUT
USDZAR Heading shortUSDZAR is likely to further drive down to the 23 fib level....fib level 78.6 has signaled a short move with the instrument having given in to the bears at a resistance zone and pointed to a corrective wave.
please engage with me if you have a different perspective or share the same sentiment.
USDZAR-NEUTRAL BUY strategy 4-hourly chartThe pair showed abidance by the "false bull flag" pattern" which has difficulty in determining when the tide turns. However, persistence is pays off. Depending if one would have re-entered sell, as I did myself, near the SL level in fact.
For now I prefer side line to seeking a BUY level, which will be little lower.
Strategy BUY @ 18.7350-18.7550 area and place SL below 18.6850 and profit level @ 18.9150.
USDZAR-SELL strategy 4-hourly chartThe pair has touched the suggested SL level, and for that reason we have to enter little higher. We are supported by GANN level 19.0450 now, but stochastic is high, which means overall we will move lower in time. we remain keeping stops tight. The false bull flag pattern has changed slightly in its upper and lower band.
Strategy SELL @ 19.0850-19.1150 and place SL above 19.1675.
USDZAR-SELL strategy 4-hourlly chartThe pair has moved higher, and GOLD moved lower, in tandem. Now we have reached nice sell levels again, with high stochastic as well. We also have a false bull flag pattern, suggesting we should see lower again.
Strategy SEL @ 18.9450-19.0100 and place SL above 19.0650 and take profit @ 18.7550.
