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SOUTH AFRICAN RAND / U.S. DOLLAR

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ZARUSD trade ideas

USDZAR-RANGE TRADE Strategy 4-hourly chartThe pair likely will maintain a wide range between 18.1250 - 18.4850 area for coming week, I feel. the stochastic is low and looks like we may turn a bit, which means short-term we may see a move back towards 18.3950. the over all picture is we may see move lower as long we remain below 18.4950 area. 1. Strategy BUY @ 18.2150-18.2500 and take profit @ 18.3875 2. Strategy SELL @ 18.3750-18.3950 and take profit @ 18.1950. SL make it 1%-1.25% of your capital employed.
by peterbokma
2
USDZAR BUY ( SA GOV UNITY EFFECT )Stability vs. Uncertainty: A unity government formed by multiple parties may initially be perceived positively by investors if it is seen as a move towards political stability and consensus-building. This could lead to increased confidence in the country's economic prospects, potentially supporting the currency. Policy Clarity: A coalition government might face challenges in implementing policies due to divergent interests among the participating parties. However, if the coalition can provide clarity on economic policies and reforms, it could bolster investor confidence and have a positive impact on the currency.
Long
by twoxcee6
3
When in doubt zoom outThe volatility of the rand is forcing us to “when in doubt zoom out.” Last week the rand managed to pull the pair to a low of 18.47 but the blue support range held its ground. The two critical rates to watch now is the 200-day MA support at 18.78 and the 61.8% Fibo resistance rate of 18.87. A break above 18.87 will allow the pair to test levels above the blue downward trend line and move into the red resistance range between 19.16 and 19.28. A break below 18.78 will however allow the rand to re-test the support range around the 18.50 mark. The rand is currently at the whims of global investor sentiment around SA’s new government of national unity but as the dust settles SA will be able to attract investors back into the SA bond market which is rand positive. The recent performance of the SA economy and the cooling of global commodity prices are however rand negative. Range bound movement between 19.00 and 18.70 can be expected as the pair looks likely to fall into a corrective pattern. A break below 18.50 will however invalidate the expected 5-wave impulse in the chart.
Long
by Goose96
1
USDZAR-BUY strategy 4-hourly chartTe daily chart did well, and profit taken. The 4-hourly suggestion went beyond the 18.6150 and we have broken below GANN levels as well. Under normal circumstances, I would suggest selling now, but since stochastic LOW and also being below regression channel, a pullback usually takes place. GOLD seems to recover higher is my view, but since the pair already declined, we may see recovery first before down. Strategy BUY @ 18.5350-18.5650 and place SL below 18.4350 and take profit @ 18.8150 for now.
Long
by peterbokma
USDZAR Approaching Key Demand Zone: Election Insights and MarketAs the South African elections draw near, there's heightened anticipation about potential political shifts. However, substantial changes are necessary for the current government to be unseated. In this context, the USDZAR is approaching a critical demand area between 17.42-17.88, where buyers previously stepped in. This zone could be a pivotal point for bullish reversals, aiming for the equal highs at 19.40. 📈💬 Key Demand Area and Potential Bullish Reversals The demand zone around 17.42-17.88 is significant because it represents a region where buying pressure has previously outstripped selling pressure, leading to a price increase. When price approaches this zone again, it often acts as a support, attracting buyers and potentially sparking a bullish reversal. 🔄💵 Targeting Equal Highs at 19.40 Equal highs at 19.40 serve as an important target for several reasons: Liquidity: Equal highs often attract liquidity as stop orders tend to accumulate above these levels. Market makers and large traders might push the price towards these highs to capture this liquidity. Psychological Resistance: These levels are psychologically significant for traders, often acting as a magnet for price. Previous Rejection: This area has historically seen price rejection, making it a critical level to watch for potential reversals or breakouts. Post-Election Outlook and Eskom Challenges It's expected that load shedding will resume post-elections, with Eskom working tirelessly to manage the energy crisis. This return to reality could weigh heavily on the South African economy and, by extension, the ZAR. Thus, a bullish USDZAR scenario remains plausible as these fundamental issues resurface. ⚡🏢 🔍 Disclaimer: This post reflects my personal views and analysis. Trading involves risk, and it's crucial to conduct your own research before making any trading decisions. Happy Trading! 🚀📉📈
Long
by Mike_SnD