Papache

Papache

I have denoted the two movements I believe are possible given the technical analysis I have conducted with two different coloured sets of arrows. The purple arrows denote the possibility of price making a more immediate rebound from the lower bound of the daily pennant against which it currently has support, possibly to the upper bound of the 4H channel or the...

Papache

I believe we are still trading within the bounds of the daily pennant that formed over the last several weeks. Visible on the chart is the 4H descending Channel I have drawn in as well as the 1H descending channel I have drawn in both of which are currently respected, both falling in line with the daily pennant formation. The purple and orange arrows denote the...

Papache

I have denoted the two movements I believe are probable given the technical analysis I have done with two different coloured sets of arrows. In both scenarios I believe there may be a test of the upper bound of the 4H channel prior to the movement taking place. The purple arrows denote the movement I believe will take place if the 4H channel is re-entered and the...

Papache

I have denoted the two movements I believe are probable given the technical analysis I have done with two different coloured sets of arrows. The purple arrows denote the movement I believe will take place if the H4 trendline I have drawn in is not correctly broken, in that case I believe price will move to the lower bound of H4 channel before making a bullish...

Papache

Identified is the formation of a double top on the H1 chart, should the neckline be broken correctly I'd consider an entry for the short term to the nearest support or ascending trend line , No idea where the USDZAR is heading over the longer term though.

Papache

In my previous analyses I have provided reasons as to why I considered the USDZAR bullish for the medium to long term but it seems for the short term at least we may be seeing bearish price movements. I believe we're seeing this because of weakening of the USD and in part due to overbought levels on the daily time frame, meaning its a necessary pull back if we are...

Papache

Nothing that has happened since the beginning of the week has deviated to the extent required for me to change my personal opinion of this pair, in my view it is still bullish and in line with the overall trend, if your mind is changing based on the sporadic price action around these levels, ask yourself why you're actually bullish on this pair, and if bearish why...

Papache

The resistance I've previously mentioned in my analysis has been broken, not decisively, however it's an important time to be watching what price does next. I personally see price retesting the support before it continues on to the next resistance as I've illustrated, I would advise waiting for the retest before getting into a long position as it would mitigate...

06:47

Papache

In this analysis I update my views on the bullish outlook on USDZAR given today's price movements. (note on the H1 timeframe I mentioned why I would not take a bullish trade, I intended to say bearish trade)

07:55

Papache

In this analysis I break down my personal reasons for believing, based on technical and fundamental reasons, that the USDZAR may move in a bullish direction in the coming two weeks. Let me know what you think.

Papache

I've personally closed my position as I'm unsure of how much momentum the push has to reach or exceed R19 overnight here in South Africa, however I won't be losing sleep over the last few pips of the move should it complete its trajectory, I am not a fan of the candle forming on the H4 (I acknowledge I get more skittish as the trade approaches my target) and would...

Papache

The US unemployment claims were at 5,245K as opposed to the forecast 5,105K, down from the previous 6,615K. The deviation from the forecast being so low would mean this potentially bad news has not affected our long position as greatly as it could have. I have also identified a descending channel that's much more visible on the H1, this might have been a necessary...

Papache

There is some consolidation happening around the current zone, however there has been no strong bearish rejection from the zone as yet and no worrying divergence happening at the moment. The turnaround could still happen and the turnaround line I've drawn in represents the point at which I'd close my long position (temporarily) should it be broken by the breaking...

Papache

The SA reserve bank cut rates by 1%, the lockdown in SA has recently been extended and USDZAR currently coming off a strong daily level, might reach 19 in the short term, also WGBI going to dump massive amounts of SA bonds towards the end of the month so look out for technical signals around that time. Please leave some feedback about any thoughts you have and...