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SOUTH AFRICAN RAND / U.S. DOLLAR

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ZARUSD trade ideas

USDZAR Finding Support on PitchforkThe USDZAR found support on the lower point of the Pitchfork & could not continue to the 200 day moving average, the expectation is price to begin trending upwards, the black and the pink lines form a parallel channel within the pitchfork, price fell out of that channel & where the black meets the pitchfork line is an interesting place for price to consolidate (double resistance) before another attempt higher. Given time, we expect the trend to support the Rand firming over the medium term. We must also be cognizant of the environment, recession figures will begin to feed into emotions, so a US dollar spike is not out of the question resulting in a hit on stock markets.
Long
by runyamhere
6
USDZAR analysis with the rand to strengthen to R15.90?Right off the bat, I normally get short analyses wrong with USD/ZAR. But the system is the system, so I have to keep to the rules. Since the trade hit my first target at R18.90, it's been forming an Inverse Cup and Handle. Now the price has broken below, which means the USD is likely to weaken from here. The indicators however are conflicted. 7>21 (about to cross) Price >200 - But the price could also drop below it entering a downtrend RSI<50 Target 1 for this analysis is an absurd R15.90. Let's see how this plays out. For argument sake, I hope it's right this time. Paying 27 US Dollars for 2 Prime cans was not the best investment of my life. And I know, I got ripped off!
Short
by Timonrosso
USDZAR - 200dmaUSDZAR has arrived at the 200dma after tagging my top side level of R19.13 Will need to see how it reacts here today and tomorrow. R18.43 needs a retest. The 200-day moving average is a technical analysis tool that helps investors and traders determine the overall market trend. It is calculated by taking the average closing price of a security over the past 200 days (or 40 weeks) and plotting it on a chart. The moving average can give traders a sense regarding whether the stock is in an uptrend or downtrend. When the price of a stock is above its 200-day moving average, it is generally considered to be in an uptrend, while when it is below the 200-day moving average, it is considered to be in a downtrend.
by Trader-Dan
4
Buying opportunitie on usdzarUsdzar tapped into a daily point of demand on a daily time frame, after it created a change of character then continued to break structure to the upside confirm bullish trend. All confluence have been met. 1. price confirmed reversal of structure and confirmed further by breaking structure ( drop base really,price dropped ,took liquidity and tapped into the daily poi.price then created a consolidation phase which is the base the price rallied up and broke structure.) 2. After price broke last higher low, created a chock. 3.price created liquidity in a form of trend line 4. Price left imbalance and also left an order block at a discount level of Demand. 2
Long
by wisemanhlokoa
1
USDZAR ShortAn area of interest is seen from the 4H to the daily timeframe. This is the area where retail traders were already taking their short positions with stop losses just above, and a lot of pending buy stops on the same level. What then happens in this area is that the market pushes above that level to hit stop losses and trigger buy stop orders and immediatetly returns below the level. This is a process known as a "liquidity sweep". This process is advantageous for the more patient traders because with the long position opened in order to liquidate the AOI, those orders have to be close in order to move the market lower as everyone expects. These are the levels we enter from.
Short
by Trade_Fanatics