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U.S. Dollar / South African Rand

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USDZAR trade ideas

USDZAR to Go BearishWith top-down analysis revealing a bearish BIAS on the USDZAR price, there are essentially more confluences confirming the bearish strength. The price is appropriately moving in an ascending channel in this HTF DTs scenario. Price is now in an LTF corrective structure as a result of what I see as price forming impulse and corrective structures as it moves down to the lower TFs. Consequently, I am holding off on looking for an entry until I see a breakout followed by a continuation of the corrective structure in a LTF.
Short
by MakhadoRomeo
USDZAR-SELL strategy 4 hourlyThe pair did test 18.7400 area and fell too a low of 18.5250 area and recovered upwards. The issue is, we are boxed-in within GANN support and resistance, ranging 18.5600 - 18.7400. The stochastic is negative, and for that reason, I prefer SELL into rally. If short, and not taken back low 18.50s I suggest to abort now. I feel we may see higher first, but this is for SELL strategy, and not to recommend a BUY for now. Strategy SELL @ 18.6900-18.7250 and place SL above 18.7800. Profit target is near 18.3150 now (above 18.2700 T-line support area).
Short
by peterbokma
USDZAR-SELL strategy 4 hourly chartThe pair has been unable to move much higher, and considering GANN resistance now 18.3600 area, and a double bottom 18.2500 estimated, and negative stochastic, albeit low, suggest we may see a large move lower. This is purely assumption and believe, and do not take my word for it. However, a tight stop-loss may do the trick and protect in case we are wrong. Strategy SELL @ 18.2800-18.3100 and place stop-loss above 18.3750 and profit order @ 18.0850.
Short
by peterbokma
2
USDZAR-SELL strategy 4-hourly chartThe pair had a strong move higher, and this is also inline with the dollar index movement. Same as some other pairs, we are starting to see a s/h/s patter (inverse), and this suggests we may see much higher levels in time. the breakout point is around 18.6550. For now, it feels we are slightly overdone, hence I prefer SELL strategy but with a tight stop. Strategy SELL @ 18.5700-18.6100 and place SL above 18.6700. Profit order suggested @ 18.4350.
Short
by peterbokma
USDZAR-BUY strategy Daily chartThe pair had a large move down inline with DOLLAR INDEX and other pairs. GOLD steady but am expecting GOLD to move lower again. 4-Hourly chart stochastic is positive and low, but daily is negative, but a doji for the close of the day. Overall, I feel we may try higher again, but carefully pick the entry level. Strategy BUY @ 18.1950-18.2350 and place SL below 18.1000 now. Of course, it is all about your personal situation. I may state a SL, and I may or may not maintain it or maybe even further away from my suggestions. Profit order let's say @ 18.4350.
Long
by peterbokma
1