As per the last analysis, we saw a huge dump, but this week expects it to grow a few steps up, as the shadow of the last candle shows buying pressure.
We have a possible right shoulder for price action guys and end of wave 2 and beginning of wave 3 for Elliot enthusiasts. Good luck, Fibz
Price to drop from here as was not able to break falling trend line
Hello to all watching my charts. Here in USDZAR we have a nice chance to get a look at a trend change to long. The pair is still SHORT (in my blue longtime shortchannel) but has been made a nice Long try in the shortterm green channel as well and now: Watch out 1. the red marked line and 2. the blue resistance line in the range 14.68 Both lines have to be...
Hi Guys, I really love this pair because its very specific in the way it moves if you have spent enough time with it. I kept this analysis simple because I don't see any major bullish opportunities because our analysis of the dollar is not strengthening anytime soon. But this is the market keep your eyes neutral and stick to your plan! Good luck, Fibz
The US dollar and Dollar Index DXY are pretty strong creating new demand levels in a clear trend. There are many USD Forex Cross pairs and exotics pairs like USDZAR that also have a clear uptrend and bullish bias creating new weekly demand demand imbalances. We don’t need complex Forex trading strategies to locate price levels to trade on USD Forex cross pairs,...
Looking too potentially short the USD/ZAR at the 14,98 / 15.07 level, given the resistance zone holds and there is a bearish entry signal on the 6h chart. Potential take profit levels are 14,76050; 14,64230 and 14,61000. A well placed stop-loss level should provide a risk:reward ratio of above 1:2. The trade also offers a positive carry benefit.
Check for retest in lower time-frame and open position.
Open position after retest> Long term sell
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OANDA:USDZAR Are you ready for this ride... Details on the chart, Happy weekend, Pipdify, Tamilkumar
The pair is at a very important area of resistance from where it has bounced in the past (green circles) and has failed to break it in all 4 occasions that has tried. It has also entered overbought territory. Furthermore, in that bullish movement seen the last few days, the support area at 14.6 has not been restested and that is a major support. Lets look at the...