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SOUTH AFRICAN RAND / U.S. DOLLAR

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ZARUSD trade ideas

USDZARExotic currency pairs do possess a certain allure to experienced traders in terms of returns. The South African Rand (ZAR) has been battered lately due to macroeconomic data and political upheavals experienced lately. These geopolitical and economic risks are correctly priced into the market Using the smart money concepts, we are witnessing a return to a previous supply established in 2021 and an elimination of price inefficiency. The risks highlighted above only serve to drive the price back to the identified supply. Currently, we do not have a confirmed set up though market data indicates we are likely to witness a breakout in the coming weeks. On the Daily chart, we are waiting for a break of the daily structure at the 18 price handle. Once this is confirmed, we expect a retracement to the confluence of fresh supply and liquidity sitting at an 18.5 price handle. At that price, we will place our sell orders targeting the downside 17-16.5 price handle. Should the price fail to break lower after consolidation and instead breaks higher, this set up is declared invalid and we shall adjust accordingly.
Short
by morrisgitau
1
Dollar Strength next weekOPTION 1: DOLLAR STRENGTH A) It will break the short term Trend Line (white) to the downside and retest support (blue bottom) it is already showing signs of retesting that bottom line. B. This is in the zone of a 68.1 Fib retracement level (BUY) for a continued uptrend OPTION 2: Dollar Strength A) It might bounce back into the short term trend line (WHITE) (confirming support) with a continued uptrend retesting the current resistance nearest (blue) UPSIDE Option 3: Neutral/Dollar weakness it will retest the nearest support (blue) A) Chop around break to the downside for a continued downtrend
Long
by calebdean21
USD/ZAR - Tentative Hello with the Feds rate decision in play we see that the Rand is getting stronger. Going down to 4hr Support level. One of two things could happen here 1. The rand could reach up again to close the future value Gaps noted on the 1hr timeframe. This will suggest that the dollar will recover. We will have to monitor the movement in this zone. 2. We could see a sharper movement downwards breaking through the 4hr support zone. This will give us good momentum for sell positions and we will move into the 18.0000 zone. At this current moment my bias is more centered around bullish momentum as noted on the 4hr TF we had strong bearish momentum. Remember price must correctly deliver both sides before we reach for any liquidity Stay Safe
by KingDee57
USD/ZAR Price Turns BearishUSDZAR Has been in an impulse phase and it has been completed with no rules violated. We are in the bearish phase of the market, we have two counts going on where it could be an impulse in the downside suggesting a long-term sell-off or a short-term sell-off as a correction meaning we are trading in a wave (C) instead. The idea of an impulse is a little complex but the idea would be to trade a wave 3 looking at the retracement it would make sense to target the 2,618. Correlating this pair to USDCAD we are more likely to have long-term sells but keeping an eye on the price level where a Zig-Zag pattern completes will be very important.
Short
by Weshareio
1
USDZAR Neutral | Could go either way - 5% lower or higherSeasonality may be coming into effect in the next few weeks. Which ever the case may be, it is never a stronger rand but rather a weaker dollar. Historical, March is a period in which the dollar weakens a bit and markets rally a bit before a strong sell off through to April/May. This should benefit the rand. I am neutral on this pair because the dollar is trading within a range/consolidating. I've highlighted rejection areas and support areas as targets on either break-out/down for USDZAR.
by N_I_G
UZThis is very nice, because it is slightly textbook. Yet knowing the fundamentals of the country, we will break through any sell bias you can think of. One day my goal would be to push that price all the way to either less R5/$ for a dollar or even to 1:1. For now I just would like to set a realistic goal of under R15/$. With the right leadership and the fight in our hearts we could and we will and when it happens, I'll come back to this post and clap for us as a nation. 🫱🏿‍🫲🏿🍾👑😁
by Mhangwane1
USD/ZAR target hit at R18.48 & we have another dreadful target It pains me to say our USD/ZAR trade hit the take profit level at R18.48 and now it looks like further upside for the USD is on the way. Another Cup and Handle has formed, which has broken above the neckline. And if we place the stop loss below the handle, we get the next target at R19.71. 7>21>200 RSI>50 Target R19.71 With interest rates on the rise in America after Daddy Powell mentioned more upside to come, meanse investors will continue to invest in the US dollar with high income yielding assets like Bonds, Money Markets and High interest savings rates options. As long as interest rates (or the fear of them) continue up, we will continue to see US dollar strength which will bring down many other exotic currencies like the rand.
Long
by Timonrosso