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U.S. Dollar / South African Rand

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USDZAR trade ideas

USD/ZAR Look for a series of higher highs and higher lows on the price chart. Enter a long (buy) trade when the price makes a pullback to a higher low, anticipating that the uptrend will continue. Place a stop-loss order below the most recent higher low to manage risk. Take profit when the price makes a new higher high. Downtrend Trading: Look for a series of lower highs and lower lows on the price chart. Enter a short (sell) trade when the price makes a retracement to a lower high, anticipating that the downtrend will continue. Place a stop-loss order above the most recent lower high to manage risk. Take profit when the price makes a new lower low.
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by dominicdrock
USDZAR Double confirmation sell signalThe USDZAR pair is trading above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), on a strong consolidation phase as it approaches the end of an 8-month Triangle. Having been rejected last week very close to not only the Triangle's top but also the (dotted) Channel Up top (Lower Highs trend-line), we have a strong short-term sell signal in our hands. Our Target is Support 1 at 18.555. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
2
USDZAR BULLISH TREND WILL CONTINUOUS TO 20.00 HI FRIENDS!! As we can see this USDZAR again near at support zone we have good chance to join the rally as we can see US $ is holding support and all major pairs. this pair is also holding a strong support and trading above a uptrend line zone, so our risk and reward ratio is fantastic on this pair let's see what markets brings its just a trade idea share Ur thoughts with us it helps many other Traders. STAYTUNED! for more updates
Long
by APEX_TRADING_ACADMEY
Testing critical levelThe pair is currently testing the 61.8% Fibo level at 18.97 and we have the psychological resistance rate sitting at 19.00. A break above this resistance range will see the rand slide to the top end of the current blue downward trend line which coincides with the red resistance range between 19.15 and 19.30. A failed break above 19.00 will allow the rand to pull the pair back onto the 50-day and 200-day MA rates at 18.73 and 18.75, respectively. Fundamentally, commodity prices, particularly platinum have had a sluggish start to the year which is rand negative. Additionally the dollar has remained solid this week while markets digested last weeks FOMC and strong non-farm payroll prints which also does not bode well for the vulnerable rand. For now, I remain on the fence as long as the pair sits in this big wedge illustrated by the blue trend lines. Technically the RSI still has room to move higher before entering the overbought zone which is not rand supportive. A cross of the 50-day MA above the 200-day MA is also on the cards which is technically a 'golden cross' and rand negative.
by Goose96