ZARUSD trade ideas
UZI am not really going to go heavy on this because tomorrow is NFP so I'm protecting my capital. This is what I'm seeing but will wait for the next few candles before deciding what I will do.
UZWe hit TP and we move. Clear your charts and start analysis and forecast all over. Well done, if you reached your daily target even better.
Expecting USDZAR to turn bearish in next few days.PEPPERSTONE:USDZAR
This pair is Failing to create new higher highs on its up trend on H4, according to my analysis it may turn positive to the down side.
UZStill running, but move SL into TP (According to your trading plan & goals). Dollar gaining back some of the strength it lost but as more and more talks go on about the one currency idea, we could see a further move down.
UZThe market has been favourable after the announcement of the consideration of one currency. Last week we saw the Dollar take a hit and the Rand gain a few muscles. With this we go in with a smile but with caution because our Repo Rate was also adjusted so the gains are not necessarily the best of options.
USDZAR H4 and the beginning of the downward trendIt looks like USDZAR H4 is preparing to start a downtrend to the support level of 17.80 after breaking down the uptrend line and pullback to it again.
USDZR looking like its on a RSISOn the higher TF pair is currently on a descending channel and has just gotten its 3rd touch
also just got another cornfimation when market created that ChoCh and a current retracement on the LTF OB
usdzar bearish trendusdzar is forming lower highs and lower lows. just looking for a dawndard trend in action.
USDZAR - Bullish ABCD PatternBullish Divergence at RSI
Price currently trading HH after breaking Possible Reversal Zone
Possible Entry and targets are mentioned
AB = CD PatternUSD/ZAR formed AB = CD harmonic reversal pattern with C point Retracement at 0.554 and BC Projection at 2.046 with a clean Bullish Divergence at the Potential Reversal Zone. Waiting for Higher Highs and Higher Lows movement to generate trade entry and exit signal.
USD/ZAR, More on the downside?Potential short-term short on the USD/ZAR. On a daily chart the ribbons seem in parallel indicating that the current down trend is maintaining its momentum. 1st potential target 17.67891, 2nd potential target 17.61881
USDZAR Guys this has been an awesome few months. None the less my bias has not changed more upside for the US dollar on this pair. A triangular pattern is being formed on this pair so guys we are still bullish on this pair.
VHT your mentor signing out ✌️ ✨️
USD/ZAR - Bearish Flag Looking at the recent price action shows us a clear bear flag formation.
- Trend = Downward
- Divergence = No Divergence found
- Pattern = Bearish Flag
- Breakout/Confirmation = Confirmed
Account Size: 10300
Risk Percentage: 1%
Amount at Risk: 103 USD
Sizing: 0.05447 Lots
Entry Point: 18.01240
Stop Loss: 18.35620
Take Profit: 17.69916
USDZAR in Bearish TrendUSDZAR Valid trade setup for position Trade because in HTF this pair in High curve🥳
usdzar droping from the HTF supply area
USD/ZAR pre-SARB rate decision.The SARB will release their latest interest rate decision on Thursday and expectations are pointing to another 25bps hike which will push the repo rate to 7.50%. I haven’t posted an idea on the pair in quite a while but a whole lot has happened since my last idea.
March has been a very turbulent month for the local unit, but the rand is holding up relatively well in the month of March given the recent fragilities in the US banking sector. As things stand the rand has depreciated just over 1% against the dollar this month. The rand however slid to a three year low of 18.71 earlier this month but it did manage to pull the pair to a monthly low of 18.01 on the back of a broad-based weaker dollar.
Currently it seems as if the pair has completed an abc corrective pattern following the 5-wave impulse which saw the pair climb from the yearly low 16.70 to 18.71 earlier this year. In the beginning of the year, I predicted that the pair would hit the 2020 high of 19.36 in the 1H2023 (I tagged the idea in this post). I’m not prepared to stick my neck out just yet to confirm my previous idea haha however a break above the yearly high of 18.71 could confirm the move as it will signal another impulse move higher. A re-test of the pair’s 50-day MA rate currently at 17.90 is still on the cards given the down trend on the daily RSI and sell signal on the MACD. The 50-day MA coincides with the 38.2% Fibo retracement rate of 17.91 and we would need a convincing break below this level in order to invalidate the move north of 19.00. Currently the 23.6% Fibo rate of 18.22 and the neckline of the parallel channel is holding support for the pair.
Fundamentally there is not much supporting the rand. Commodity prices had a woeful first quarter off the back of the 10%+ declines in brent crude oil. Credit markets (US 10year yields) have seen massive daily swings following the fragilities in the banking sector which is eroding risk-on investor sentiment. The only thing that will be fundamentally rand positive is some degree of stabilisation of the US debt market (US 10-year bond yields) and higher commodity prices. As long as the credit markets remain unstable the rand won't be able to gain from its carry trade advantage.
In summary; critical supports = 17.90 and 17.68, major resistance = 18.60 and 18.71.
