ZAREUR trade ideas
EURZAR - TRENDLINES (caution) Potential trendlines channel and fibs to get some setup to trade this pair
Wait and see
Trade your plan. If you dont have any avoid trading
(Warning. I am a private trader. I don't sell any signals, equipment or other sources of learning about forex . I am here to share ideas based on technical analysis to improve me on Forex practice. Trading forex is dangerous and can result in significant financial losses. So I am not responsible when the results of the positions to be taken on the basis of my charts since these constitute no basic signals but simply my own market analysis. As i always says, trade your plan and if you don't have any, avoid trading.)
EURZARPotential short based on extension and repetition +, divergence on weekly
1.618 hit
trade your plan
SELL NOW - MEDIUM RISK TRADESHORT TRADE :
Entry : SELL @ 16.960
Target : 16.670
Stop : 17.220
Risk Level : MEDIUM
RR ratio : 1:1
BUY BUY BUY - LOW RISK TRADELONG TRADE :
Entry : BUY @ 16.7600
Target : 17.283
Stop : 16.375
Risk Level : LOW
RR ratio : 1:3
Trade Of The Day No.6 Sell $USDZAR.It seems the finance minister has been abruptly removed. Replaced with a little known politician. The rand seems to have dropped significantly, more so than reasonable and so I would say its devaluation is overstated. The fundamentals remain the same.
Cypher Pattern on EURZAR and carry trade opportunityIf this bearish Cypher pattern is formed, we have a good short opportunity which would also provide a good positive swap.
Weekly trend is also bearish.
For more details on Cypher patterns, see Nico_Muselle's related idea below
