ZARUSD trade ideas
USDZAR-SELL strategy 4-hourly The pair moved little higher on the back of GOLD decline.The stochastic is positive.
We are still protected by GANN resistance, and also still outside the ascending wedge, suggesting we may see lower levels later on, is my personal view.
Strategy SELL @ 19.1750-19.2150 and place SL above 19.3150 and take profit @ 18.9350.
USDZAR-SELL strategy 4-hourly chartAs noted previously, the SL had been placed fine, an d re-instated SELL @ 19.3100 area. Now we have declined sharply and stochastic is negative. we are attracting the 18.9000 direction based on GANN angle.
For now, we may have SOLD new (at the time I provided an analysis) at 19.2500-19.2800 area and now we are taking profit around 19.0150.
For new strategy SELL @ 19.1150 - 19.1650 and place SL above 19.3200 and take profit @ 18.9350 for now.
USDZAR-SELL strategy daily chartThe previous update on daily chart was a BUY strategy and worked out well. Profit order done @ 19.1750 area.
Now we are becoming overbought and regression channel suggests we may see a movement between 19.9300 and 19.4100 on top side. the stochastic is negative and therefore I see potential test of 19.0000 again
Strategy SELL @ 19.2575 - 19.3150 and take profit @ 19.0150. SL above 19.4150.
USDZAR-BUY strategy Daily chartThe pair is looking a BUY on daily chart, and range for BUY needs careful consideration, using 4-hourly as well. GOLD supports the likely chance for a stronger up move over time.
Stochastic is positive, and judging historical context, we have a chance to test 19.0150 and maybe we reach 19.2500 again.
Strategy BUY between 18.6150-18.7300 I feel. SL below 18.5150 and profit order @ 19.1750 for now.
USDZAR-SELL strategy 4-hourly chartThe SL was right to have, and reinstating at 19.3100 area, unfortunately was outside on the way and not being able to provide that idea. However, we are starting in a decline mode, but would prefer careful entry at the selected level.
Strategy SELL @ 19.2500-19.3000 when seen again and place SL above 19.4150. Profit order now @ 19.0150 area.
Re-test of rates above 19.00The rand has been able to weather the storms of the broad-based stronger dollar thanks to the spike in precious metal prices however the rand did stumble at the back end of last week following the higher-than-expected US CPI print. The critical rates to watch on the USDZAR pair is the 61.8% Fibo rate of 18.97 and the 200-day MA rate of 18.75. I expect the 200-day MA to hold its ground given the renewed geopolitical uncertainties which will see the pair re-test the 18.97 resistance rate. A break above 18.97 will see the rand fold further towards 19.15.
USDZAR-SELL strategy 4-hourly chartThe pair has made a wonderful climb and the daily chart suggestion worked out well as we reached that objective. Now the 4-hourly chart is starting to feel heavy on upside.
The stochastic is negative last few sessions already.
Strategy SELL @ 19.0200-19.0750 and place SL above 19.1550 for now. Profit order @ 18.8350.
USDZAR-SELL strategy 4-hourly chartThe pair has spiked a bit on the back of weakening GOLD price, which is heavily overbought for some time.
Stochastic is slightly negative, and on the high side, but did does not suggest we cannot see it return higher. I rather focus on the pattern, and as depicted, likely a "false bull flag" pattern is the case.
Strategy SELL @ 18.8700-18.9300 range and place SL above 19.0350. Profit order @ 18.6150 for now.
USDZAR-BUY strategy Daily chartThe pair is under pressure due to higher GOLD prices, and its logically then to expect lower levels. The 4-hourly chart is showing possibility to see 18.5600 test.
Stochastic is positive DAILY chart and GOLD will correct, therefore seeing an opportunity for more fun on the upside later on.
Strategy BUY @ 18.6150 - 18.6300 and place SL below 18.5150. Profit order @ 18.9650.
USDZAR-SELL strategy 4-hourly chartThe pair did not move lower as yet, and my BUY suggestion never reached. Of course, GOLD is weakening, but remember, we move with the pair ahead of time. This should be of concern, and therefore, we may see a pullback again
The stochastic is high, and shows overbought signs.
Strategy SELL @ 18.8500-18.8800 and place SL above 18.9450. Profit order @ 18.6150.
USDZAR-BUY strategy 4-hourly chartThe pair moved as expected, and we reached profit objective and slightly more. For now, I feel we must continue from BUY side due to the expected GOLD and other precious metals corrections. There should be some pullback towards 18.6150 I feel.
Strategy BUY @ 18.6150-18.6500 and take profit @ 18.8750. SL I feel maybe below 18.5150.
USDZAR-BUY strategy 4-hourly chartThe pair has moved lower, which was logical, but would not have ventured beyond 18.5600 for the reasons stated. now we are much lower, and my view is same as yesterday, we seek BUY entries now in expectation of GOLD correction.
Strategy BUY @ 18.4150-18.4550 and take profit @ 18.6475 now. SL place below 18.3150 as I do not wish to be tricked into it. However, it is a personal choice where you place your SL of course.
USDZAR-BUY strategy 4-hourly chartthe pair is oversold, but not extreme, and stochastic is not too low as yet. However, I feel with GOLD levels, we should concentrate on GOLD movement, and its heavily overbought, hence we should look for BUY for the pair now.
Strategy BUY @ 18.4350-18.4600 and place SL below 18.3150 (I do not want SL to near now). Profit order @ 18.6850.