EUR/ZAR ShortThe South African currency has been weakening for years, but it has already tried to break through the support shown in the picture three times. It may be worth placing a short position up to the lower support.
ZAREUR trade ideas
EURZARThe EURZAR has been retracing for the past week. The pair seems to have found considerable support around the (61.8%-50%) fibonacci levels; Triple bottom pattern on the lower timeframes validates this long position. 21.00000 KEY level is my projected target level.
#EURZAR potential long.I am considering taking a long position on this. My strategy involves waiting for a false break of the support level to occur, which may create some liquidity. Then, I want to see the price break above the support level again, after which I will look to go long on the re-test of the support. To limit my potential loss, I will place my stop loss just below the low point of the false break.
EURZAR645 PIPS IN THE BANK. The pair has completed an impressive 645 pip move. The pair is a few pips shy of the key 21.00000 institutional level.
EURZARThis trade is a success. The EURZAR has rallied over 300 pips since the bounce from the uptrend low. T he pair has hit both take profits @20.60000 and @20.750000. Earlier analysis highlighted the key 21.00000 level as our long term target.
EURZARTP 1 @20.60000 HIT. We now focus on H4 closure for TP2 @20.750000. The pair has traded sustainably above 20.50000 key leve.
EURZARLONG POSITION; TP1 20.60000; TP2 20.750000 The pair has formed a bullish confirmation candlestick in the H1 chart.
EURZARThis is an update to yesterday's post. The pair has formed a considerable support after the fifth touch at support trendline; This calls for long term buy move towards the the key 21.00000 Psychological key level.
EURZARTis is a long term idea on the EURZAR. The pair has rejected support once more for the fifth time; This rejection might give the buyers a chance to close this above 20.50000 for an eventual long term purging of the key 21.00000.
EURZAR - Triangle Breakout or Reversion?EURZAR has been in a recent range and is now testing the upper trend line.
Market possibly pre-empting a negative tone to the South African finance ministers speech on Wednesday.
If the breakout is a fake, there is a high likelihood of it revering to the lower level of the Triangular formation.
EURZAR The pair has retested 20.50000 key level. We would like to see a rally towards 20.65000 level as indicated on the chart.
EURZAREURZAR has hit TP2 as explained earlier. Sustained closure above 20.5000 level takes us higher the levels towards 20.80000.
EURZARThe pair has hit Take profit 1 as explained in my earlier posts about this set up. 20.50000 Key psychological level has been purged. Having seen a close above this level gives the bullish bias more preference going forward. 20.80000 level is open for testing in the upcoming sessions.
EURZARThis is an update to the eurzar long post. The post was made pre-london session open. So far so good.
EURZARSeems like this pair has found meaningful support at the H4 uptrend low. The CPI rally has also been retraced. The exotic pair now aims to trade higher back to the psychological 20.50000 level.
EURZAR has lost momentumThis currency pair was going up respecting market structure but recently we saw the trendline being broken and lower structure points started to appear. An increase in volume could make price go lower quite agressively...
EURZAR The pair cleared the equal highs as highlighted in the las analysis; The pair subsequently dropped to test the left shoulder of the inverted H&S. In this analysis i expect a rally back above 20.50000 psychological level.
EURZAR.The pair has taken the 20.50000 key level after the strong bullish bounce off the wk1 uptrend low at 20.00000 key psychological level. In this set up i expect a rally towards 20.60000 level.
Bearish retail sentiment might be a key driving factor towards these levels.
Potential bearish QML pattern unfolding.The waves have started overlapping, possibly indicating that the Bulls are running out of steam and anticipating a potential reversal at the previous resistance.
North Well that's my theory for the new year, we just need the confirmation before we enter the trade
