USDZAR-BUY strategyThe pair has been a rough ride. Some luck liquidating @ 18.73 due to taking other positions. There after a collapse, and NEW BUY entry was @ 18.57-18.60 range. For now we remain BUY in that range and take profit @ 18.6575 for now. ADD around 18.4500 again. Longby peterbokmaPublished 110
USD/ZAR pre SA GDP printThe rand has now posted convincing gains in the past three sessions off the back of an increase in global investor risk appetite following a strong US NFP’s print on Friday and the conclusion of the US debt ceiling debacle. An ABC corrective pattern seems to be the most likely move for the pair at the moment as per my previous idea linked below. The rand has managed to pull the pair into the first support range (S1 on the chart) and the 23.6% Fibonacci retracement level is now firmly in the rand’s crosshairs. A break below S1 will allow the rand to pull the pair onto the psychological rate of 19.00. The rate at 19.00 is will probably show some strength but I expect the rand to pull the pair lower onto the 50-day MA rate of 18.64 which coincides with the 38.2% Fibonacci retracement level and the bottom of the current upward channel. Looking at the fundamentals there is not much supporting the rand but the expected increase in debt issuance from the US following the raising of the debt ceiling will allow risk assets such as the rand to soak up some fresh dollar bills. The 1Q2023 South African GDP results will be released tomorrow and expectations are for a year-on-year 2.2% growth print, up from the disappointing results of 0.9% in the 4Q2022. A print in line or higher than expectations will boost the heavily oversold rand, but we’ll have to wait and see how the SA economy fared given the low electricity supply in the 1H2023. In terms of the technical indicators, there is a cross over sell signal on the daily MACD and the RSI is trending lower with plenty of room to drop before hitting oversold levels. Shortby Goose96Updated 2
$USDZAR Target reachedUSDZAR Target reached of R19,52 Looks like this might go back to test the inverted head and shoulders neckline @ R18,65Shortby KoosKanmarUpdated 2
USDZAR-BUY strategyShort-term am buyer and I feel the pair can move back towards estimated FIB 0.236 18.96 area. Strategy is BUY current 18.70-18.7400 and take profit @ 18.8575 for now. Longby peterbokmaPublished 1
USDZAR-BUY strategy 4-hourlyThe pair is oversold on 4-hourly chart, and for that reason I feel its for a good cause. The prices are low into BB and further judging the history, we are somewhere near a bottom for short-term gain. Strategy is BU8Y @ 18.7400 - 18.75 and take profit @ 18.8575 for now. we buy in further weakness applying a low leverage of course. Longby peterbokmaPublished 2
shorter timeframe updated from previous idea usdzar continues to plan from last week's idea , we expected usdzar bearish pressure, and the idea is proceeding as planned. collected partials , as a short term uptrend is expected , but the idea remains the same after the short term expecting more bearish pressure for usdzarShortby Abdulkadir2205Published 2
UPDATE USDZAR hit my target price unfortunately at R19.80 - WaitSince the USD/ZAR hit my target price at R19.80. It's been retracting a bit. It weakened fast and furious. And now we can expect a bit of a retracement before the USD continues to strengthen. I truly hope the USD/ZAR continues to weaken so the rand can strengthen more... It's embarrassing seeing the rand at levels above R19 in the US, UK, Swiss etc... Come one South Africa! by TimonrossoPublished 330
Time to make profit on USDZARhi every one complete pullback to the trendline with 6% profit Potential The information provided on this Page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. this page does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisioLongby expay24Published 0
Long bearish USDZAR the rand might strengthen further I'm seeing a long bearish on USDZAR the Rand might strengthen further to 1694.00 by nd of the year Shortby admiretiraPublished 443
USD/ZAR Mid week reversalCurrently Testing Low of the week + Low of previous day Waiting for a fakeout below current Low to trap sellers and a swift move up between London/New York session. my first ever publish from my phone will have better detailed marked up charts next timeLongby chou0007Published 113
USDZAR- SELL strategySome week back I suggested a SELL strategy @ 19.78 or higher. The potential was at the time for a slight upward move, and we saw a high of around 19.91. For those that have shorted, I suggest profit order @ 18.47 for now. the stop-loss can now be at break even @ 19.80 let's say. Shortby peterbokmaPublished 114
USDZAR - UpdateFollowing on from the previous post, the minor support at R19.80 did indeed hold for the ZAR and the rand has strengthened to below the R19.25 The next hurdle is the 20ema at R19.16 which could open a test of the channel lows around R18.95 I still expect a test of R18.60-70 at some point. Alternatively, if we score another "own goal" or the dolalr rallies, we could break back through R19.50 again which is the new support. by Trader-DanPublished 1
Usdzar is shortA full scale setup on Mzansi pair. It shows a huge pullback to the previous Low point. I will see how it goes. Happy trading Shortby ellcothleoma02Published 5
Sell for USDZAR USDZAR is in a wedge and has broken out,I believe we shall see more sells Shortby josephazranPublished 7
TARGET reached for USDZAR unfortunately to R19.80!It was written in the charts. The USD ZAR formed the Symmetrical Triangle on the daily. The price consolidated and squeezed until it reached the Apex. Then because the prior trend was up, the breakout was up and lead to a continuation in the trend. The price then went to a dire R19.80! Let's hope it forms a Buy Side Liquidity order block for Smart Money to sell into and bring the price back down. But with what is going on with South Africa coalescing with Russia and with Eskom's issues, the confidence rate is dropping hard... Sorry South Africa. The most beautiful country with amazing people and the government is messing it up!Longby TimonrossoPublished 116
USDZAR 2023 Yearly Structure OHLC [Sell Setup] Alert!🚨🚨🚨USDZAR 2023 Yearly Structure OHLC Alert! There is a significant bearish divergence observed in the monthly time frame, starting from February 1st, 2016 , up until the current market price on May 1st, 2023 . This bearish divergence indicates a growing dominance of sellers in the market. Additionally, the price in the monthly time frame indicates a high opening for the current year of 2023, presenting a clear sell setup in formation. Price is being rejected at 19.86470 , providing an opportune moment for selling. An ideal sell trade would occur when price closes below 19.36809 , accompanied by a reliable TDI cross to confirm the presence of sellers in the market. The first take profit level is set at 18.20213, while the second take profit level targets the 2023 yearly open at 17.40263 . It is important to exercise caution and await valid entries before executing any trades. We kindly request your support for this idea by liking it if you find it useful. Remember, success in trading requires both patience and discipline. SHARE + LIKE & LEAVE A COMMENTShortby PeanutButterPublished 113
ZAR weaker and weaker...USDZAR is still trading inside this channel and making higher market structure. Today, we have found support above our last high which signals a potential trend continuation...Longby UnknownUnicorn48526553Updated 6
USD / ZAR UpdateIn an earlier post, we highlighted that we were waiting for the ZAR to give us some direction - and give us direction it did! The currency blew out to the upside (weaker) and tested its previous lows of 19.30 as expected - should the move higher.. After the recent 50 basis point interest rate hike, we expected to see the ZAR strengthen - unfortunately however, its price action has taken us by surprise and the currency remains stubbornly weak for now, hovering close to its all time lows. by Trad3r_16Published 3
Usd/Zar Sell opportunity if the price do not break 20 Zar price meaning that there will be selling opportunities till to 16 Zar according to my analysis . But be careful on fundamentals they can shift the predictions on opposite direction Shortby smholdingsPublished 113
USDZAR-SELL strategyIt is starting to look overdone, and of course on the back of GOLD weakness, the pair could slightly go higher a bit before down again. the strategy is careful SELL @ 19.7300 and add again @ 19.8700. I suggest profit order near 18.3700 and stop-loss above 20.1500. (we may be adding above 20.00. Shortby peterbokmaPublished 5
An Unexpected Twist: ZAR Might Gain Strength When Least ExpectedIn this different trading idea, we want to bring attention to a potential shift in the USD/ZAR currency pair that goes against popular belief. Despite widespread negativity, we see a chance for the South African Rand (ZAR) to gain strength against the US Dollar (USD). While USD/ZAR has been bullish (going up) for a while, there are signs that things could change. Looking at the monthly chart, we notice some technical factors pointing to a possible turnaround for ZAR. These include elliot wave analysis and a strong trendline formed on the monthly timeframe Remember that trading against the crowd comes with risks, so it's important to manage those risks wisely. Develop a plan that considers potential market reversals and unexpected events. Pay attention to important price levels and use stop-loss orders to limit losses if needed. While others might dismiss the idea of ZAR gaining strength, thinking differently can sometimes lead to unique opportunities for traders who are willing to explore alternative possibilities.Shortby Abdulkadir2205Published 115
USDZAR - Minor SupportThe ZAR broke out of R19.50 and has reached next "minor" support at R19.80 ... The level corresponds with the measured target of the flag pattern breakout. A retest of the break level is likely to occur, but one cannot predict if it happens before the next level (R20) or after. (We can just follow the lower timeframes for direction). by Trader-DanPublished 0
USDZARRands and Dollars Relief pull back before the rand gets battered againShortby waynepipkillPublished 2