The rand has now posted convincing gains in the past three sessions off the back of an increase in global investor risk appetite following a strong US NFP’s print on Friday and the conclusion of the US debt ceiling debacle. An ABC corrective pattern seems to be the most likely move for the pair at the moment as per my previous idea linked below. The rand has...
Since the USD/ZAR hit my target price at R19.80. It's been retracting a bit. It weakened fast and furious. And now we can expect a bit of a retracement before the USD continues to strengthen. I truly hope the USD/ZAR continues to weaken so the rand can strengthen more... It's embarrassing seeing the rand at levels above R19 in the US, UK, Swiss etc......
It was written in the charts. The USD ZAR formed the Symmetrical Triangle on the daily. The price consolidated and squeezed until it reached the Apex. Then because the prior trend was up, the breakout was up and lead to a continuation in the trend. The price then went to a dire R19.80! Let's hope it forms a Buy Side Liquidity order block for Smart Money...
USDZAR is still trading inside this channel and making higher market structure. Today, we have found support above our last high which signals a potential trend continuation...
In this different trading idea, we want to bring attention to a potential shift in the USD/ZAR currency pair that goes against popular belief. Despite widespread negativity, we see a chance for the South African Rand (ZAR) to gain strength against the US Dollar (USD). While USD/ZAR has been bullish (going up) for a while, there are signs that things could...
USDZAR as we can see that it recently broke a crucial level around 18.50xxx during the course of this month creating new highs around 19.5xxxx. Looking to the right we can see the if USDZAR closes above 18.50xxx at the end of May, we can expect USDZAR to push further up to touch 20.50xxx - 20.70xxx before attempting to come back down to settle around 17.5xxxx -...
Usd/Zar just finished its correction on the 1 hour time frame Usd/Zar is at a all time high and has a double top reversal pattern on the daily time frame This Reversal Pattern on the 1 hour time frame is called the Head and Shoulders Reversal Pattern We can wait for the sell signal and sell
Short from the red trend or from green zones. Believe in short trend.
Background (a quick look back): The rand's covid recovery, on the back of the Fed’s QE infinity policy and a strong commodities rally, ended in June 2021 after the rand managed to pull the pair to a low of 13.40. The rand got hit by a quick one-two in the middle of 2021 as the DXY found support around 90.00 and the local riots in July which saw the local unit...
We posted this trade alert around 24 April saying, we have bad news for the South African rand. The trade is still on track to the first target at R19.80. Once it surpasses, it'll need to consolidate move in a sideways range before the next breakout. Hopefully, it won't be up again. But anyways, the demand is strong for the USD against the ZAR and we can do...
The ZAR (South African rand) has come up on the radar as sellers have dominated and a true buyers strike ensues. We’re seeing longer-dated South African govt bonds sell off aggressively, with yields on 25yr government debt rising above 12.5% and the highest levels since 2020. The energy shortage continues to take a toll on economics and talk of increasing...
Hi All. I am a student of the art and my idea's should not be traded. This is how I see this pair behaving. Enjoy good luck
UsdZar has a reversal pattern on the weekly and monthly chart. Usd/Zar is currently rejecting this reaistance on early time frames. I am selling now with a small position that I will hold for a few weeks.
Looks like it won't stay long. All time High with a possible short term Bearish.
Support at 18.21, which coincides with 50-day MA and 61.8% Fibo is holding support. A failed break below 18.21 will allow the pair to retest the resistance range between 18.48 and 18.55. A break below 18.21 will however see the pair slide back between the support range between 18.00 and 18.10. For a more detailed analysis see the linked idea.
It is guaranteed to be a volatile week given the stacked economic calendar. Tonight, the Fed is expected to hike interest rates by 25bps, and on Friday we have the always highly anticipated US non-farm payroll data. As per my previous idea, I got the timing wrong for my expected move to 18.55 but I’m still holding my buy orders in placed around the 18.21 level...
The pair is currently testing the top of the blue downward channel. A break above 18.40 will allow for a move higher north of 18.50 while a break below 18.21 will invalidate this move higher. I’m personally positioning myself for more rand weakness and a move north of 18.50 given the current risk-off back drop. My strategy is to place buy limit orders around the...
🔸Hello guys, let's review the 8 hour chart for USDZAR today. Speculative C&H setup in progress. right now pullback/correction mode until mid may 2023. 🔸Price fractal is defined by cup structure (completed already), and the handle pattern. handle pullback/correction in progress now. will complete later near 17.80. 🔸Recommended strategy for USDZAR bulls. Buy/hold...