Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
It is getting ready to break out this time. It might pull back after RSI hit the trend resistance line.
Potential short setup on USDZAR after breaking out of the channel and retesting it. Also, take note of the ending diagonal after the breakout and retest.
March will be known as the worst month of all-time for the South African rand. With the ongoing lockdown, the increasing rate of COVID-19 cases, the crumbling economy, and the downgrading from Moody's - It's just been bad news after bad news for SA. And what happened last week? Well we saw the South African rand hit record lows passing through the R19.00 mark...
USDZAR is in global uptrend. But no instrument moves in straight lines. What we have witnessed was 50 % retracement and now its forming a clear fry pan bottom (also called Bump and run reversal bottom in Bulkowski's encyclopedia of Chart patterns) reversal pattern, right above 50 % global trend fibonacci level. Pring´s KST confirms the reversal.
We are in unchartered territory @Crypto_Curry told me to think about the fundamentals. Trajectory remains for a weaker currency fundamentally, however all countries that have materially large, or at risk twin deficit,s have also felt the pain of a strengthening USD compounded by domestic situation and unknown economic impact of COVID. With no technical reference...
USDZAR appears to have reversed after a double top formed on former Weekly major resistance level and successfully broke the double top neck line. What to look for: Break, retest and a bearish confirmation pattern to go short. Projected TAKE PROFIT level: Pink line. Red arrows > Show strong seller potential. Where can we see the Head & Shoulders pattern: H4 &...
Hi there. Price is forming a possible continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
USDZAR Morning before #SONA if things don't turn around at 15.00 we going to 15.26
If prices break above the previous 34 156 resistance, this should be a good opportunity to buy into this market. The price is above the 100-day exponential moving average on the weekly chart and also seems to be bouncing off the 400-day EMA on the daily chart, as this seems to present a support zone. Our good old trendline shows the price making a series of higher...
The chart patterns forming are clear as shown in the chart but I am mostly interested in the COT report, banks are holding longs on the ZAR yet we have been seeing a bullish move in the last week or so, a DROP IS CLOSE WE CAN GET A DOUBLE TOP along the trend line, SO BE ON THE LOOK OUT
I am scalping if price closes above the indicated level
The rand held its own through the USD bull run, wonder what it'll do when there's nothing holding it back. Good luck and follow me for more!
Pattern: 1M Channel Down. Signal: Bearish as the price is near the inner Higher Low trend line. Target 16.3000.
USDZAR just finished a retest for a quick short