Current pullback risks to resolve to another leg down. It is strange enough since the bigger picture in cross-asset field is negative (long USDZAR usually) but the picture is the picture. I consider that as a point of weakness and abolish trap so I fully prepared to short it.
The only way South African's can benefit from the havoc we are facing is by longing USDZAR. Zones are marked. Enter during NY session. USD strength will come in. Enjoy, swing to the upside R20+, take partials at R15, R15.55.
We have seen USDZAR price was falling like Skyfall the last couple of weeks, and all the Bear was enjoying the fall, but now it's Bull time. If you closely see the USDZAR daily time frame, it's already breakout the downtrend channel and creates a good reversal umbrella pattern. Right now, it consolidates the support level, which is good for me for further up. We...
Would love to see a nice breakout, with usd strength chiming in the market. #BLESSEDPIPS
Will we see on more impulse to the upside before we take out 13,400???
#USDZAR market is moving in the bearish channel and after hitting strong support it is going to buy up to TP2.
We may expect more down USDZAR seems to more more bearish.
Accurately and reliably forecasting a currency is near impossible, however, its easy to have an opinion. The question is, what do you base your opinion on? As a South African, I follow the rand closely, particularly against the US dollar and the pound. One can use a purchasing power parity (PPP) or real effective exchange rate (REER) chart to calculate a "fair...
price has created a falling wedge pattern and we looking for a bullish reversal
The pair has been bouncing between the 200-week MA and 100-week MA since the start of the year. The 200-week MA is a strong support rate for the pair and a strong catalyst will be needed for the rand to sustain rates below this MA (such as the "Ramaphoria" period in 2017). Technical indicators are favoring a topside break out of the downward channel from 2020....
Good day everyone Hope everyone is having a good week in the markets and a beautiful day ahead. Here's a look at the USDZAR from the 4H chart * The pair is currently trading in a Symmetrical triangles which occur when a security's price is consolidating * The pair has touched the roof of structure twice and saw a rejection acting as a resistance level. * The...
Hello team, we currently spotted a head and shoulders at supply. with a great risk to reward shorts are recommended. kindly leave a comment
HEY EVERYONE Hope you guys are having a good one the chart are playing along, Here's a look at the DOLLAR / ZAR just a predictive young forcaust looking from a higher time-frame trying to figure the strength of the RAND in the near future when we take a close look we see that the pair is trading in a ascending channel just on a pretty large scale respecting...
Hello team, price broke our trend line and has created a sideway trend. lets focus on what price and structure.
After retracement to the 0.618 level on the monthly Bearish Shark formation, USDZAR has printed a Bullish Bat on the weekly which signals the end of the retracement on the larger timeframe and a likely run to the upside at least to the 0.382 level which is the previous support not resistance on both timeframes.