ZARUSD trade ideas
USDZAR-RANGE SELL 4-hourly chartThe pair has reached profit level, and for now we should SELL into rally within the range.
We are below mid-Keltner, and strategy is SELL near the mid-level, i.e. 18.9050 area (check the current level at time of your SELL).
Stochastic is negative and keeps the pressure on the pair.
Strategy SELL near 18.9000 and place SL above 19.0200. Profit order @ 18.7150.
USDZAR Speed lines FibonacciPrice trading midway between my resistance and support speed lines. Price bounced of a horizontal support, but did not reach the 38.2 retracement level. On my short list and will read the candlesticks as soon as price start intersecting my speed lines. Set alert on your trendlines and only check back once alerts are triggered.
USDZARUSDZAR is clearly bullish. but there seem to be some sort of selling opportunities at the support turned resistance the after retest where it looks like its going to push to. Resistance lies exactly at 61.8% fib level, another trust worthy confluence. if that happens, we expect USDZAR to fall to 18.10 where we might have a good buying opportunity. our confluences here: 1. Possible head and shoulder pattern, 2. A 61.8% fib level retest, 3. retest of an ascending trendline
usdzar buy tradeThe USD/ZAR pair has been in a strong uptrend since July 2023, breaking above the resistance level of 18.00 and reaching a four-month high of 19.10 on October 9, 2023. The pair is supported by the rising 50-day and 200-day moving averages, which indicate a positive momentum and a long-term bullish trend. The pair is also trading above the upper boundary of the ascending channel, which suggests a continuation of the uptrend and a potential breakout to the upside.
USDZAR-BUY strategy 4-HourlyThe previous update SL was executed @ 18.9150, and we moved further south. The RSI and stochastic are both low, and the key is GOLD behavior. I feel GOLD is overdone, which I believed to be the case on the previous update, but like a train, it did not stop.
Strategy BUY 18.8000-18.8250 and place SL below 18.7250 and take profit @ 19.0450 for now.
USDZAR-BUY strategy 4-HourlyThe pair has declined sharply, and perhaps a little more than expected. Now we have gone on the extreme other side, and likely we may see corrective action here.
Stochastic is low, and we are lower part of Kelner channel as well.
Strategy BUY @ 19.00-19.0750 and take profit @ 19.2150 for now (monitor it if we do not manage to go through mid-Keltner). SL @ 18.9150.
USDZAR One last High before this 3-month rally is exhausted.The USDZAR pair made a 4-month High last week, extending the 3-month rally since the Higher Low at the bottom of the Channel Up pattern on July 27. With the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) supporting, based on the previous Higher High, the price has one last run to make before getting exhausted. Our target is the 1.5 Fibonacci extension at 20.2500.
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USDZAR-NEUTRAL SELL 4 Hourly chartI feel we are nearing profit levels, and in fact I had first taken back near 19.4100 and then re-sold @ 19.58 again. So, my profit target of 19.2350-19.2400 likely will shift to BUY back 19.2700-19.2900 I think.
Strategy SELL @ 19.3800-19.4100 on pullback and SL @ 19.5050 (not too far away form short this time). Profit order @ 19.1850.
USDZAR Short trading opportunity(short-term) 16expect ZAR to strengthen against the dollar about 20 cents +-, I have opened a short position with the size of (50000USD), speculating that the ZAR to strengthen in the short term within a day or within a few days to 19.785+-.
Stop Loss is around 19.05+-, take profit is 19.785+- , the entry price is 19.00+-
Bearish Opportunities for USDZARHi there
I haven't done a setup like this in a long time; it's a classic SND approach. The price may experience an upward pulse, but if it rejects the QML level, it could turn strongly bearish, at least in theory. If it surpasses the QML level to establish a higher high, then the setup will be considered invalid.
The 18.20000 level is of significant importance, as it's thought to possess enticing yet relatively low liquidity, which could exert downward pressure on the price.
The theory of this setup revolves around the idea that when two lows touch the same area but break a previous high, it can trigger a low that pushes the price lower. The challenge lies in identifying this specific low.
For me, it seems like the bias could be around the 17.80000 mark. Best followed with strength indicators.
Wishing you a wonderful week, bye
K.