Usdzar buy setup (ACTIVE)As predicted last week, price came back to our POI. Time to trade!
ENTRY OPTIONS:
1. @ 4hr OB
2. @ 2hr OB
3. After confirmation entry
GOODLUCK
USDZAR trade ideas
USD/ZAR CHOPPED AS USUAL We took 0.75% today,the market was not volatile enough but it's the first day of the week we can't complain 😁
USDZAR-SELL strategy Daily chart Heikin AshiSome indicators and based on Heikin Ashi, suggest we see lower levels to come. Stochastic is not as yet negative, but seems turning that way. I am a careful short-term seller based on this scenario.
Strategy SELL @ 18.1500-18.2000 and place SL above 18.3150 and take profit @ 17.9150 for now.
USDZAR-BUY strategy 4-hourly chartThe pair starts looking to move upwards with a positive stochastic, and also in terms of correction objectives, and GOLD being overdone.
Strategy BUY @ 18.1150 - 18.1550 and place SL below 18.0750 and take profit @ 18.2950.
Rand looks like is about to fallThe Rand has been range bound against the USD dollar Between
the R18 – R17.90 support zone and R19.30 – 19.60 resistance zone.
In the last couple weeks, the Rand printed two inverse hammer
candles.
Those inverse hammer candle to me signal that the Rand buying
that brought the price back to the R18-R17.90 support zone. Is
slowing down and losing some strength.
Couple with that a bullish divergence pattern. Signal to me that the
Rand is about to turn against the Dollar. Back to the R19.30
resistance
ZAR optimismThe rand is enjoying its post-election optimism and the broad-based decline in the dollar is adding strength to the currents. A break below the 18.12 support will confirm the move lower towards 17.86. The fact that the pair tested, but couldn’t hold, levels above the 61.8% Fibo at 18.56 and the 50-day MA at 18.38 is rand positive coupled with the fact that precious metal and copper prices are holding firm.
Locally, the markets have the latest SA mining and manufacturing results for the month of May to look forward to which are expected to come in strong off the back of another month free of loadshedding!
USD/ZAR LONG(BUY) TRADE IDEALooking to take potential Long positions seeing as the previously formed H1 Supply zone has been retested which also confluences with the inner M45 & M30 Supply zone which further confirms the strong Bullish momentum still at bay.
USDZAR Continuations ShortLooing for a pullback into key supply zone to short lower. Inflation data may come in flat or higher and cause a pullback into key level. HTF structure shows successful distribution of price.
USDZAR-BUY strategy 4-hourly chartThe previous update worked well, but not reaching the expected objective. Now we have stilol some pressure, since we have not been able to establish above 18.2350. The stochastic is low but still negative.
Strategy BUY @ 18.0650 - 18.0850 and place SL below 17.9750 and take profit @ 18.2350.
Usdzar Possible Long position entryAbove is 4hr BULLISH ORDER FLOW. Key factors:
1. 4hr fair value gap present
2. 4hr Demand zone (Liquidity sweep✓)
3. Price made new high (Strong low✓)
4. Inducement zone (Clearly visible on 1hr)
Note: Price is only bullish on 4hr timeframe. Daily and weekly are both bearish and price is searching for a premium price level to sell. Please comment your view on this one. 🌟📈
USD/ZAR HIT THE TARGET PRICE TOOThis was week was a success although we took one loss but it's fine because we hit four targets successful week it was
USD/ZAR HIT THE TARGET PRICE TOOThis was week was a success although we took one loss but it's fine because we hit four targets successful week it was
USDZAR Bullish IdeaUSDZAR is looking bullish and it just tapped the fib level 61.8 and it has a bullish divergence
USDZAR-BUY strategy 4-hourlyThe pair still had more downward pressure due to GOLD holding up and moving higher. Of course, it makes it difficult to catch the movements at times, but as long we keep tight SL we should be fine.
Strategy BUY @ 18.2000-18.2350 and place SL near 18.1750 and take profit @ 18.4150. Please note that the daily chart has downside potential overall.
Bullish bounce?USD/ZAR is falling towards the pivot and could bounce to the 1st resistance.
Pivot: 18.1317
1st Support: 17.9290
1st Resistance: 18.4709
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USDZAR Long Side Entry PlansUSDZAR has fallen significantly in trend, especially after FED comments yesterday feeding into USD Weakness.
Price arrives at key long zones, with more risk averse areas available below. LZ2 preferred as lower inherent risk.
Entry size will depend on Sentiment at this time.
USDZAR-BUY strategy 4-hourlyThe pair has moved lower as expected, and now settling in 18.40s area. GOLD seems over done, and likely will move south again, hence our pair may have room upwards again short-term.
Strategy BUY 18.3500-18.4000 and place SL below 18.2750 and take profit @ 18.6150 for now.
USD/ZAR BEARISH PULLBACK?Services PMI shows that the economy is weak so a pullback it is necessary we are still bearish on USD/ZAR
Long USDZAR (short-term)The recent political events have proven to bring back some confidence in SA. However, it needs to coincide with the financial data. Look to add another position if it goes to the R17.50 level.
USDZAR There are chances according to my view that this pair will continue to rise upside. for that case might have a chance to buy the pullback if we retrace to 0.50 - 0.618 fib lavels, if however the break below the zone. then might look for option 2 zone.
USD/ZAR BEARISH TODAY?This is a market looks like it's going to be buried today to retrace yesterday bullish rally
