There is hidden bearish divergence on Monthly time frame.
Weekly pullback traded in the 4 hour chart against the long term downtrend
TD9 looks good. EURZAR Prime for a move. Good luck traders
Pattern: 1W Rectangle (9.5820 Support - 10.5700 Resistance). Signal: Bearish as the price completed a cyclical Lower High within the pattern. Target: 9.9000.
Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the current price for sell.
I had 4 successful forecasts on USDZAR and I managed to take a trade on 3 of them, here if we get a nice flag there would be a nice sell setup too
Bearish Weekly candle on the close of last week gives a good opportunity to short USD/ZAR with a stop just above the highs of the last few weeks.
Eskom is just one of many devastating structural issues but it will be the one that takes the country down.
African Rand will strengthen as M chart shows hidden divergence. Short this pair.
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.
FX:USDZAR Long term channel held USDZAR at least for now. Smaller channel made with clear negative divergences. Looks like USDZAR weakness (great for us in South Africa) is on the card for days to come.
The pair is trading within a 1D Channel Up (RSI = 56.302, MACD = 0.105), currently on its Higher Low zone (Highs/Lows = 0.0000). This is an ideal opportunity to go long on the next +5% leg. TP = 15.40000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
-WATCH FOR RETEST WITH STRONG BULLISH REVERSAL PATTERN -EXECUTE WITH CONFIRMATION 2nd Scenario -WAIT FOR BREAKOUT ON SUPPORT
The pair is on a 1D Ascending Triangle (RSI = 54.426, STOCH = 51.729, Highs/Lows = 0.0000) which on the short term is giving buy signal towards 16.800. Also, a stronger longer term buy signal is coming close to being materialized when the Golden Cross takes place (MA50 over MA200). The last 2 times that happened, the pair rallied more than +15%. ** If you...
The pair is pulling down on the 1D chart and has reached its pivot point (RSI = 50.729, CCI = -28.2213, Highs/Lows = 0.0000). This should accumulate some buying pressure to take it slightly higher only to be most likely rejected again towards the 12.90 - 13.87 Support Zone. We are short with TP = 13.900. ** If you like our free content follow our profile...
The market is approaching the 48,940 Support. 1M is supported there (RSI = 52.867, MACD = 574.500, Highs/Lows = 0.0000) and the current dip is a solid medium term buy opportunity. Assuming that a roughly -2% Lower High sequence will be maintained we place the next medium term target at 52,200. ** If you like our free content follow our profile...
USDZAR still Looking Mid Term Bullish here. Expect a drop Short term before making higher highs.Not looking too good for South Africans going forward. Should see some reprieve after a year or 2 and a lot of strength