ZAREUR trade ideas
Bullish on EURZARLooks like the Euro South African Rand pairing seems bullish, according to the indicators. If green candle closes more than ATR, do not enter.
ZAR gains against EUR after elections??Can we see South African Rand grow some Ba((s after the election and gain some weight, breaking this wedge will tell,
$EURZAROANDA:EURZAR
Symmetrical triangle in making break bellow 15.90 will be bullsih for ZAR.
Go mighty rand !!!
EURZAR SHORT ON THE HOURLY CHART ON THE 60 MINUTE CHART THE PAIR HAS FORMED A DESCENDING CHANNEL THAT ALLOWS US TO ENTER FOR A QUICK SHORT BEFORE THE PAIR HEADS BACK TO THE TOP AS IT IS ALREADY IN AN UPTREND ON THE 60 MINUTE . IT HAS TOUCHED THE RESISTANCE OF THE TREND LINE AND ALSO WE HAVE EXTRA CONFIRMATION FROM THE CANDLESTICK PATTERN FORMED AT THE RESISTANCE WHICH IS TWEEZER TOPS . ONCE THE SHORT IS FINISHED A BREAKOUT WILL BE EMINENT AND WILL HAVE A CHANCE TO GO LONG ON THE PULLBACK
EURZAR SHORT 60 MINUTE ON THE 60 MINUTE CHART WE HAVE A DESCENDING CHANNEL THAT HAS TESTED THE RESISTANCE OF THE TREND LINE AND A POSSIBLE REVERSAL IS EXPECTED CAUSE WE HAVE EXTRA CONFIRMATION FROM THE CANDLESTICK PATTERN WHICH IS TWEEZER TOPS TAKE PROFIT IS PLACED A LITTLE BELOW THE HIGH TEST CANDLESTICK FORMED A FEW DAYS BEFORE ALLOWS FOR A GOOD RISK TO REWARD
EURZAR short intraday/swing trade setupEURZAR short intraday/swing trade setup
Sell 15.73300
SL 15.84046
TP 15.60558 80% and trail the balance
Descending triangle broken to the down side, enter short on the retrace to .2360.5 fib zone
EURZAR - back to 38.2ZAR had a strong rally supported by fundamental news. I expect to see some profit taking, and change in positioning.
Technical:
- 20 EMA was broken on 2h with a backtest
- 38.2 Fib retracement is a clear T/P zone
