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SOUTH AFRICAN RAND / U.S. DOLLAR

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ZARUSD trade ideas

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
USD/ZAR SHORT(SELL) TRADE IDEALooking at the USD/ZAR on the Daily timeframe , the Market has been retracing from the previous weeks Low , we will be looking for a retracement to retest the recently formed Daily Demand Zone , which also confluences with the retest of the inner 1hr/4hr Demand Zone , we will take into consideration the movement of Gold and also the movement of DXY , on USD/ZAR the Quote Currency ZAR has a bit of a correlation with Gold as South Africa is one of the largest distributors of Gold around the world distributing roughly 6.37% of Gold
Short
by Transmute_CEO
EM Markets Fiat Papers Are Made To Eventually Become Worthless Sought Africans need to understand regardless of which color they are, if they can not stop the hatred versus the white people or vise versa. Given the economic hardship ahead of us that form of state will eventually collapse sooner than later. The global situation we are in is like little fires everywhere, I will start with Turkey to collapse first followed by Pakistan and Sought Africa. Which country do you think will blow up first amid coming deflation crisis (recession) ? how do you think about Italy, Spain, Portugal and Greece ? previous analysis: Regards: The para-bearish short seller.
Long
by SabahEquityResearch
12
#USDZAR stuck between 18.95 and 18.20. USDZAR some interesting developments for the Rand bulls. 50dma < 200dma (death cross). 3 lower highs forming what could be a potential flat bottom triangle with the base at 18.10-18.20. Some bullish characteristics here which could be shifting sentiment in favour of the bulls but it's still too early too call. Range bound between 18.95 and 18.20 now. A convincing break above or below the two levels will be needed to force a move in either direction.
Short
by MarcoOlevano
1
USDZAR-BUY strategy 4-hourly chartIt feels the tide is turning, and this negates the previous update with SELL idea in the 18.7150-18.7800 area. Now I feel we should be expecting higher levels, as we have broken GANN resistance 18.7800 area and a slightly positive stochastic. Gold lower also helps to see higher levels. Once we have reached higher, we start SELL again. Now a moment of BUY is my recommendation. Strategy BUY @ 18.7600 - 18.7800 and place SL below 18.6800 and take profit @ 18.9700.
Long
by peterbokma
USDZAR-BUY strategy 4-hourly The pair has moved sharp upwards again, and this on the basis of stronger USD and also weaker GOLD price. On my last update I was neutral, as there is no clarity, and same as now, it is not picture clear. However, there may be more upside potential due to the fact we have broken triangle resistance. I am not keen personally to venture this moment anything, and my ideas are more suggestive. Strategy BUY @ 18.4750-18.5000 and place SL below 18.3500. Profit order near 18.7450.
Long
by peterbokma
9
Could 2024 be coming with Rand strength against the US Dollar?In April 2022, major institutions sold the Rand off when it was trading around R14.40 ~ R14.80 against the US Dollar. Price proceeded to print a steep rising channel capping off close to R19.92 with a shooting star and a beautiful bearish engulfing candle that closed the first week of June 2023 below R18.70. This was an indication that Rand buyers that were sitting around the R19.30 level in April 2020 were still awake. Looking at price action after June 2023, we can see a change of character in price by way of printing a lower low and lower high, signalling potential further strengthening of the Rand against the US Dollar. This will be confirmed once the USDZAR pair starts trading below R18.00 in the coming year as we traded bearishly throughout December 2023 and closed the year below the 50 Week EMA. Once the rate drops below R17.40, we could see the short term downward target of R16.20 being reached, with the medium to long term target sitting at R14.80 to rebalance the market after the institutional demand of the USDZAR in April 2022. If however, R18.00 remains strong support, we could see one last push by the US Dollar Bulls above the 50 Week EMA to levels beyong R19.70 potentially pushing the exchange rate to R21.00. Current sentiments: Bearish on the USDZAR with neutrality taking over if we trade above R18.80 in the first half of 2024, and bearish sentiments will be completely off the table once the pair trades and holds well above R19.70 as the probability of reaching R21.00 will be in play.
Short
by Source_Sailor
2