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SOUTH AFRICAN RAND / U.S. DOLLAR

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ZARUSD trade ideas

USDZAR-SELL Strategy 4-hourly chartThe previous update viewpoint provided the right feeling of upside potential, and depending to one's action, one may have sold within this 19.12-19.1500 area. SL are always in the hands of the one trading, and in this case we did have a high of 19.2075 area before retreat. My idea was stop above the previous high, and this translated around 19.1950 area (100 pips above the high before). This of course, based on the driver of the seller. Strategy for now, is unchanged, and we SELL into strength, and since we ran upwards, I feel our SELL or additional SELL should be near 19.1750 or higher. the GANN resistance is 19.2350 area (and shifting upwards each new candle stick of 4-hourly. so SL above 19.2500 for now. Profit order unchanged @ 18.7350.
Short
by peterbokma
USDZAR: ABC Pattern Indicates Bullish Setup Hi there, There's an ABC pattern forming in the USDZAR H1 time frame. AB appears to be a correction in a bullish trend that continues in higher time frames when viewed over a stochastic indicator. Therefore, BC is expected to continue the bullish XA wave, reaching an approximate price area of 19.31196, with 19.08984 as the first price target when applying a Fibonacci retracement tool. If the price falls below the recent low of 18.46243, then this setup will be invalid. Happy Trading K.
Long
by Khiwe
2
USDZAR-SELL strategy 3-hourlyThe pair has move a little higher, and beyond the SL 18.9950, and then retraced back. Overall am a preferred SELLER of the pair, observing a possible S/H/S pattern, that may not be completed as yet. the stochastic suggest positive movement upwards, and I feel in this context, we either BUY carefully with stop below 18.9100, or await the SELL that should be near 19.10-19.15 area with SL above the previous high. I prefer SELL into rally and not the BUY version mentioned. Strategy SELL @ 19.1200-19.1550 and place SL above 19.19765 for now. The profit order is @ 18.7350 for now.
Short
by peterbokma
USDZAR-SELL strategy 4-hourly chartThe SL @ 19.1125 was executed, but luckily I also had a SELL order placed switching of screens @ 19.1675, and I just took back around 19.0100. Stop-loss is always for protection, and RSI was quite high above 80.0 also made me decide to leave sell order higher than the SL. The stochastic has turned negative and we are in a corrective mode now. Lower GANN is onloy 18.6700 area, and upper one is 19.1000 area. we spiked above the Keltner band, and could not sustain this with a high RSI. Strategy SELL @ 19.0575-19.0950 and place SL above the last high. Profit order @ 18.7350.
Short
by peterbokma
2
USDZAR LongFundamentals: Deteriorating economic-fundamentals for the South African Rand: "It's a futile exercise trying to defend the exchange rate," says the South African Central Bank governor. He won't defend the depreciating rand. According to Reuters, Kganyago says that the "bank's main concern remained fighting inflation, reiterating that risks to the inflation outlook included food prices, oil prices and exchange-rate moves." South Africa's consumer inflation "remains comfortably within the central bank's target range of between 3%-6%." The Rand's central bankers meet in November to discuss interest rates. Technicals: Weekly and daily lining up.... Stage 3 Chikou set-up Breakout of triable pattern
Long
by Rocketman