USDZAR trade ideas
USDZAR-BUY strategy 4-hourly chartThe pair has remained supported 18.5500 area and SL change has protected it from harm. We are embarking on a move higher and as mentioned earlier, GOLD is correcting and feel it will start moving towards $ 2,235 soon and lower.
Strategy is keep positions that are LONG or add or BUY @ 18.6750-18.7000 and take profit @ 18.8450 for now. SL keep same @ 18.5500 below for existing positions or @ 18.6150 below.
USDZAR-BUY strategy 4-hourly chartThe pair has moved through the 18.7000 area and that is why we moved little further down. that is why we keep SL for such situations, and it got triggered.
Now we are still below 18.7000 and we are in low stochastic areas, suggesting we are oversold. the key is GOLD of course, and when GOLD correction idea is right, this pair will move back 19.0500 area.
Strategy BU*Y @ 18.6350-18.6550 and place SL below 18.5750 for now. Profit order @ 18.9450 for now.
USDZAR - Bearish TrendUSDZAR is in Bearish Trend on 1H timeframe. It is making Lower Highs and Lower Lows and following a trendline. Good Entry point to short this pair is at the touchpoint of trendline.
RSI indicates a possible trend continuation.
USDZAR (LONG)
-Support line has been holding perfectly throughout.
-Dollar index showing strength on dollar which correlates with prediction of usdzar bulls expected soon.
USDZAR-BUY strategy 4-hourly chartYesterday, I felt technically we could see much lower levels, but since we have hardly managed to move lower in any form of speed, concerns me.
The stochastic is negative, and we have broken support levels, but one support 18.7000 area should act as strong now. this means the miles from 18.8500 to 18.7000 is not much, and currently we hoover around 18.7900 - 18.8100 area. GOLD is heavily over bought, and therefore, we prefer now to BUY at lower levels.
Strategy BUY @ 18.7450 - 18.7750 area (adjust iff you are more adventurous then me) and place SL below 18.6750. Take profit @ 19.0750 I suspect we will see higher levels due to GOLD status.
USDZAR-SELL strategy 4-hourly chartsorry, was busy with few other things, and expected a higher USDZAR yesterday, but now think this move higher has opened the way to test 18.6150 I feel. Stochastic turning, GOLD still high, and as long as it remains high, pressure is downside for the pair.
Strategy SELL @ 18.8150-18.8650 and place SL above 18.9850. Profit order @ 18.5575 for now.
passing prop firm challangethere is a small gain on Zar and the market is showing a sell but we will wait for a confirmation
USDZARThis might be a possible running flat if the cypher inside there works out then this might be a nice run up
USDZAR-SELL strategy 4-hourly chartThe pair will likely move further south on the back of strong GOLD price levels. We have triple TOP for the pair 19.15-19.20 etc. and we broke through neckline 18.90s. Now we are trying to move beyond 18.7900 support and if given way, would expect a steep decline 18.6350 area. However, observe stochastic levels as they might be overdone at the time we have moved beyond 18.7000.
Strategy SELL @ 18.8900-18.9100 and place SL tight 18.9850 for now (financial stop only). Profit order @ 18.7850 for now. Most are already short as per my previous update. so keep short and or add.
USDZAR-NEUTRAL SELL strategy 4-hourly chartThe pair has indeed moved higher as I felt would be the case. and slightly stopped before the profit level of 19.1150, but near and good enough above 19.1000 exiting.
Now we have moved lower on GOLD price increase, even I felt it would move lower first. This still may be the case.
Strategy SELL @ 18.9650-19.0100 and place SL above 19.0350 and take profit @ 18.7350 again.
USDZAR, Ascending TriangleUSDZAR on the daily timeframe presents an intriguing technical setup characterized by the formation of an ascending triangle pattern. An ascending triangle typically indicates a bullish bias in the market sentiment. Consequently, there are two potential scenarios to consider.
Firstly, the price action may encounter support around the lower boundary of the ascending triangle, leading to a rebound. This suggests a favorable opportunity for traders to enter long positions as the price bounces off the support level.
Alternatively, there exists the possibility of a breakout above the upper boundary of the ascending triangle. Such a move would signify a bullish continuation pattern, likely propelling the price higher.
In terms of targets, should the bullish scenario materialize, the price may aim for levels between 19.63 and 19.86.
short buy this is a bit riskier i am taking a huge precaution my buystop has been hit few pips can make a difference. happy Easter weekend
USDZAR; Key Technical Areas For EntryHey Traders,
Lots of traders are looking at the USDZAR and current price action areas.
Particularly this comes at key resistance/rejection areas.
Watch for more.
SARB decision weekThe SARB will announce their latest repo rate on Thursday and expectations are for the SARB to leave rates unchanged at 8.25%. The SARB will lag the Fed when it comes to rate cuts so South Africans should, on a best case scenario, only expect rate cuts in the back-end of the year. The SARB will not cut rates until the Fed has started cutting rates.
The rand strength has faded significantly since the pair failed to break below the February low of 18.53. The pair is now in a peculiar range between 18.98 and 18.68. I’m leaning towards a break above 18.98 which will allow the pair to re-test the red resistance range around the 19.20 handle. A failed break above 18.98 will however see the pair fall back onto the support at 18.68. Technically the cross of the 50-day MA above the 200-day MA is rand negative. For now, the pair is still stuck in the blue wedge we have been highlighting throughout the year. A top side break out of the wedge will see the rand tumble above the 19.50 handle and a break above 18.98 will an early indication for this move.
USDZAR-BUY strategy 4-hourly chartWhen we moved lower, I thought am wrong, but the SL 18.8350 has not been violated. The market is side ways for the pair, but think considering GOLD think we have a chnce first to see higher levels.
Strategy BY @ 18.8650-18.8900 and place SL below 18.8125 now and take profit @ 19.1150.
USDZAR- BUY strategy 4-hourly chartEven though the pair may descend later again, the current state is attempting higher levels. I feel we may see 19.10-19.15 area before we will see lower levels.
I would prefer with a positive stochastic, and also the room we have higher, to BUY instead.
Strategy BUY @ 18.9650-19.0000 and place SL below 18.8350 and take profit @ 19.1250 for now.
Ready to chow USDZAR?Longsss babbyyy
-break, retest and continuation of falling wedge
-Right shoulder and within session
-my FXBook correlation
USDZAR-SELL strategy 4-hourly chartThe pair is poised to move further south. The stochastic remains negative, and we have retreated from the GANN resistances as shown on the chart.
Strategy SELL @ 18.8850 -18.9150 and place SL above 19.0500 and take profit @ 18.7350 for now.
USDZAR BUYING OPPORTUNITYUSDZAR SEE A POSSIBLE BUYING OPPORTUNITY AS PRICE APPROACHES OUR BULLISH ORDER BLOCK.
just above our order block we see that price left an imbalance that needs to be filled.
USDZAR:POSSIBLE BUYING OPPORTUNITY
USDZAR to 13 rands per dollarBased on the chart, Im seeing nothing else but a sell from here. Weekly has a crazy divergence between the price and the RSI.
A Top was created in February 2016.
Range 19 to 20 rands is a liquidity area. from here if price does not break above 20 rands, then expect more price drops from here.
Based on my TA, from November 2023 till 22 January 2024 we were in a correction cycle to complete wave cycle 2, so from here im expecting a further drop for wave cycle 3 an Impulse down which always comes after correction, then once wave cycle 3 is complete then i will come with an update because we need to also have wave cycle 4 and 5.
So basically this year is gonna be changing for Rands against dollar. Im just here wondering on whats gonna happen with the S.A politics which is gonna lead to rand gaining strength against the dollar, but lets watch and we gonn see. Im just excited for this year man.
We looking for selling on uzdzar this my analysisDollar is gonna be weak this week so we looking for bears on usdxxx and bulls on xxxusd
usdzarUsing the EUR/USD currency pair, we will provide an example of how and when to buy or sell forex. Let’s say you want to buy the EUR/USD. If the EUR goes up in value relative to the USD once the trade is sold, you could have made a profit (depending on commission and other fees). A trader in this example would be buying the EUR and selling the USD a...
