USDZAR BullishMy idea here is:
It seems I've overlooked the robust support for this pair; it made a beautiful bounce but didn't retest the respected structure. However, I'm anticipating around 19.8000 before we identify a strong resistance area.
I want to clarify that I'm not sharing this information as trading signals or entry points. I typically don't provide trading signals for either crypto or forex, although I may consider it in the future.
ZARUSD trade ideas
Potential bearish drop?USD/ZAR is rising towards the pivot and could reverse to the 1st support level.
Pivot: 18.64432
1st Support: 18.3265
1st Resistance: 18.85609
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
long on USDDZARwe see a long on USDZAR as you guys no my analysis is very simple , we see usdzar in a bullish channel on the daily, we see it was in a bearish channel on the 4H, it broke out without retesting , now we are just waiting for that retest so we buy, if it plays out I'll surely make a lot of money, if it does not half of my account is gone..yah lets hope for the best. nothing is 100% guaranteed, leave a comment if you want to breakdown the market with me,
Bullish bounce?USD/ZAR is falling toward the pivot and could bounce to the 1st resistance.
Pivot: 18.5602
1st Support: 18.3265
1st Resistance: 18.8685
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
usdzar buy tradeThe Relative Strength Index (RSI) is showing an upward trend, indicating increasing momentum. Additionally, the Moving Average Convergence Divergence (MACD) is showing a bullish crossover, further supporting the potential for an upward move.The Relative Strength Index (RSI) is showing an upward trend, indicating increasing momentum. Additionally, the Moving Average Convergence Divergence (MACD) is showing a bullish crossover, further supporting the potential for an upward move.
USDZAR-SELL strategy 3-hourly chart GANN SQThe pair had an impressive run up, and one feels in the selling mode. I wish to place some caution, since the pair has some room further upwards to near 18.9500 before it may settle for weakness after. RSI slightly overbought.
Strategy SELL @ 18.8750-18.9350 and take profit near 18.7150.
USDZAR-BUY strategy 6-horuly chart GANN. SQthe pair is slightly oversold, but not extreme and some danger still remains for lower levels. However, looking at stochastic, bit negative but the lower level and RSI, I think we are starting to find a short term base. I think we may see recovery short-term 18.5500.
Strategy BUY @ 18.3350-18.3650 and take profit @ 18.5450 for now.
The Rand's journey to R29 against the US Dollar. A Recall from our 31st December 2023 article when we anticipated a fall of the USD to R17.40:
"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. Indication that Rand sellers that were sitting around the R19.30 level in April 2020 were still awake."
Looking at price action after June 2023, we saw a change of character in price by way of printing a lower-low and lower-high. Price proceeded to print another lower-low around R17.03 in September 2024.Reading the 2 weekly candles of that low in the last 2 weeks of September 2024, we can see:
1. A double bottom
2. Bullish engulfing pattern
3. Dragonfly Doji when combining the 2 candles.
This was a signal that buyers are in still much active in the game. Price proceeded higher since then, reaching highs of R19.22 in Jan 2025, testing and cleanly breaking the June 2024 weekly supply zone at R18.84.
Currently price seems to be in a correction from that break. We anticipate a retest of a zone between R17.82 and R18.30. If price finds & confirms support in this area, we can see the exchange rate moving above R19.92 to make new highs. Weekly RSI is cleanly in bullish territory and above the smoothing average.
Should this zone fail to produce buyers that take the exchange rate above R19.23, the rate could tumble to R16.20 and further down to R15.90.Taking into account where Gold Spot is sitting in comparison to the DXY, there are more probabilities of Gold prices catching a reversal and somewhat dragging the Rand's strength with, than there are possibilities of the DXY falling; however that is up to the market to decide. We cannot predict, we can only prepare.
Targets to the upside: (probable)
R20.25
R21.96
R30.28
R54.40 (far future)
Targets to the downside: (possible)
R17.20
R16.20
R15.90
Current sentiments: Bearish on the South African Rand unless the R17.82 - R18.30 zone fails as support and turns into resistance.
USDZAR-BUY strategy 6 hourly chartThe pair has moved below 18.5000 and it did so with hesitancy. I feel that it is not convincing, and we have a oversold status (not extreme, but good enough for the pair). Indicators still negative overall, hence some care must be taken.
Strategy BUY @ 18.4350-18.5000 and take profit near 18.6750. (GANN resistance 18.5800 area).
Bullish bounce?USD/ZAR is falling towards the pivot and could bounce to the 1st resistance.
Pivot: 18.42844
1st Support: 18.21710
1st Resistance: 18.65470
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
USD/ZAR Buy Setup
Overview:
The USD/ZAR pair is trading near a strong support zone around 18.50, a level that has consistently held over the past months. Price action suggests a potential bounce from this area.
Key Points:
Support Strength: The highlighted support zone has historically served as a launch point for reversals.
Bullish Opportunity: The recent rejection of this level indicates buying pressure, increasing the likelihood of upward movement.
Target Levels:
🎯 TP1: 18.79 – Immediate resistance.
🎯 TP2: 18.98 – Previous swing high.
🎯 TP3: 19.22 – Key resistance level.
Stop Loss: Below 18.26, safeguarding against invalidation of the setup.
Trade wisely and stick to your plan!
Potential bearish drop?USD/ZAR is rising towards the pivot which acts as a pullback resistance and could drop to the 1st support which is a pullback support.
Pivot: 18.7436
1st Support: 18.4603
1st Resistance: 18.8586
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
USDZAR Bearish Setup: Break and RetestThe USDZAR pair has broken below the channel, signaling a shift in market sentiment toward bearish momentum. The price is currently retesting the trendline, which now serves as a potential resistance area.
If the price confirms rejection at the retest of the trendline, I anticipate a bearish move targeting the 18.66384 level, which represents a logical target for this setup.
This setup highlights the potential for a trendline break-and-retest continuation to the downside. Traders should look for bearish confirmation signals, such as bearish engulfing candles or rejection wicks, before considering short positions.
USDZAR - Potential Short from Key Resistance ZoneThe USDZAR pair is currently trading near a significant resistance zone around the 19.10300 level. Historically, this area has acted as a key turning point, where sellers have stepped in to push prices lower. The recent approach toward this resistance suggests a potential bearish scenario if price action confirms a rejection.
A clear rejection pattern, such as bearish engulfing candles, long upper wicks, or other signs of selling pressure, could indicate the start of a downward move. If this scenario unfolds, the price may head toward the 18.62617 target level, aligning with a potential corrective phase in the market.
This setup reflects the broader expectation of a pullback within the existing market structure. Traders should closely monitor price action at the resistance zone for confirmation signals before entering positions.
Feel free to share your thoughts or any additional insights!
USDZAR-SELL strategy 12 hourly chartThe pair is nearing short-term oversold status (likely near 18.6150-18.6300), and may recover a bit from there. Overall we are on the way towards 18.3150 is my personal view, based on the break of GANN suport moving towards or near the next support.
Strategy SELL @ 18.7150 -18.7550 and take profit near 18.3875.
USD ZAR TRADE IDEA The USD/ZAR chart displays a clear upward trend since 2019, characterized by higher highs and higher lows. An ascending channel pattern has formed, with the price currently trading within its boundaries. Key resistance levels are observed at 19.8128, 19.6694, and 19.34313, forming potential supply zones where selling pressure has previously been observed. Key support levels are seen at 18.54398, 18.21901, and 17.74159, forming potential demand zones where buying support has previously been observed. Given the prevailing uptrend and the ascending channel, a long trade could be considered. A long entry could be triggered upon a break above the upper trendline of the channel or a retest of a demand zone. A stop-loss order could be placed below a recent swing low or the 18.00000 level. The profit target could be set at the 19.8128 resistance level or the upper boundary of a supply zone. It is crucial to conduct thorough research, consult with a financial advisor, and implement proper risk management strategies before entering any trade.