USDZAR has bounced off a Weekly/Daily support level , forming a higher low in an uptrend and bouncing off the 14 Weekly EMA . A continuation to 16.40000 (previous higher high) is expected.
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDZAR | BULLS TIRED?
The bulls looks tired and taking correction in parallel channel.
They can either take support from parallel channel and continue making higher highs
Or the pair can break the channel and touch the recent low and bears take charge from there.
Key point highlighted on charts.
This exotic currency pair has been in a bullish trend over the past few weeks, due mostly to South Africa’s ongoing economic and political problems and partly due to USD strength. The news of the origin of a potentially dangerous coronavirus variant emerging in South Africa at the end of last week caused many countries to shut their doors on South African and...
HELLO EVERYONE
HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT IN THE COMING WEEK ON THE DOLLAR / ZAR.
- We saw the pair rally with the bulls in this past trading week.
--- here's what we had
- We closed...
USDZAR perfectly hit the 50% fib retracement level following a breakout from a minor upward channel.
We are forming a bigger wedge which I believe will result in USDZAR's next target to be $17.00.
I remain a long term bull on USDZAR.
HELLO EVERYONE
HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT IN THE COMING WEEK ON THE DOLLAR / ZAR.
Looking for continuation on the pair for a completion of the impulse.
IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE
SMASH THAT LIKE BUTTON & LEAVE A COMMENT.
ALWAYS...
USDZAR has made a key reversal from the HVN and trend line support and continues to carve out a potentially significant inverse head and shoulders pattern
I only take high probability trades. I love clean swing trades like this one cos I dont like being on the charts all the time, nor everyday all day. Should price break above the Blue line I am going to allow my trades to run.
*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk. Remember to exercise proper risk...
