Heading into overlap resistance, could it reverse from here?USD/ZAR is rising towards the pivot which acts as an overlap resistance and could potentially reverse to the 1st support.
Pivot: 18.4787
1st Support: 18.1270
1st Resistance: 18.6895
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ZARUSD trade ideas
USDZAR-NEUTRAL strategy 4-hourly updateGood am neutral on the pair, and especially a GAP opening that was 18 figures lower. That is a little too difficult to predict, but news of course can drive it anywhere as we know it.
For now I prefer on the side line. It is oversold a bit, and we are still be 18.2250 GANN resistance and overall lower potential. I am not convinced either way and prefer to stay out till it feels we have some direction again.
USDZAR-NEUTRAL strategy 4-hourly chartrThe daily chart showed clearly upside potential, and the 4-hourly chart provided some good and lesser indicative accuracy, but fundamentals like cabinet formations certainly provided the movements sharply either way.
The GANN line interacts now in a tug of war, and its not decisive either way from here. Considering the higher levels seen and were we are at, the chances are seeing slightly higher levels before it will settle again.
Strategy try BUYING near 18.1500-18.1700 area and take quicker profits near 18.4350 and sl lets say 0.75% of investment amount. Otherwise just stay neutral and see what happens from here.
USDZAR Short-term bullish signal but bearish overall.The USDZAR pair has been trading within a Channel Down since the April 09 Low. After pricing the latest Lower Low last week, the price is currently on the new Bullish Leg but got rejected today on the 1D MA50 (blue trend-line).
Both past Bullish Legs of this pattern rose by +5.30%. On top of that, their 1D RSI sequences are quite similar. As a result, we take advantage of today's rejection and turn bullish, targeting 18.7500 (marginally under an expected +5.30% rise.
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USDZAR-SELL strategy 4 hourly chartThe pair has likely more room to upside, and mentioned yesterday, the daily chart showed already scope for upward movement. Now we are at a small cross road, and think we may see some recovery down first, before we move higher to break 18.3500 area GANN resistance.
strategy SELL @ 18.2750 - 18.3000 and place SL above 18.3750 and profit order near 18.1350 for now.
USDZAR-RANGE strategy 4-hourly chartI have been traveling and back now. The pair has moved lower than initially anticipated, but for valid fundamental reasons. Now we are settling in and it is trying to find the direction short-term. The stochastic is non committal and overall we are in GANN angle downtrend.
the daily chart is showing signs of higher prices to come.
Strategy BUY @ 18.0150 - 18.0500 with SL below 17.9150 and profit order @ 18.3350.
Strategy SELL @ 18.2350 - 18.2550 and place SL above 18.3150. Profit order @ 17.9750.
USDZAR BuyI Initiated a buy trade. Looking for a pullback to 18.22938. Bears are in control but in the next 7 days or so this target will be hit.
Little leverage used
No stop loss
Time limit is 7 trading days, if target isn't hit then trade is invalid. I've been refining my strategy; I think things will be looking much better moving forward. Don't join me, just keep track of my trades. I post for my own accountability and possible insights for YOUR OWN trading style.
Cheers!
Patience.
USDZAR $/R17.40 ?Since the new announcement of the coalition government the market seems to be supporting the decision as this might bring stability to the county and how it is governed. the breakthrough of the price falling back to R17.95 to the dollar is very good for the country and it's currency.
USDZAR Currency Pair AnalysisHello there,
The USDZAR is ranging below the 19.26763 resistance area and seems to aim for the 17.57160 low. Only when the price makes a lower high below 17.19152 will there be a potential trend change.
The market analysis suggests a bullish trend, despite the bearish price movement, indicating that the momentum is volatile and the bearish range is neutral.
It seems that emotions are playing a significant role in this market's behaviour, making it crucial to stay cautious and closely monitor the price action.
I will call it neutral.
* Be adaptable: Keep your trading approach under review so you can react to changing market conditions.
Happy trading,
K.
USDZAR LONG TRADE PLANThe pair appears to be trading inside 2 strong resistance and support key zones. Lately it has been in a bearish trend and nicely aligned with the bottom key zone. From these areas if the price clearly gets rejected in this area, I'll be looking for long positions.
Please do your own analysis before placing any trades.
Cheers and happy trading.
GO LONG USDZARGiven the current weakness in the South African economy coupled with the robust economic growth in America, this presents a great buying opportunity to gain in the US dollar (USD). Taking advantage of this economic disparity can yield favorable returns as the USD strengthens relative to the South African rand (ZAR).