LONG USDZAR @ 14.67 TP @ 16 SL @ 14.40 We have seen the ZAR strengthening against the US dollar in the last few weeks. This was dude to rising global commodity prices helping SA's net exports. Another reason was that due to inflation and SARB entered an aggressive hiking cycle. However, I think this move is oversold. SA has many problems that they need to recover...
USDZAR is in a downtrend creating a series of lower highs and lower lows. Currently, it has formed a daily Doji with a lower high and is likely to drop. a selling opportunity may arise based on daily. please like this idea if you find value in it.
the HTF of this exotic pair is still bullish. will be looking for buy positions
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.
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.
Currently on a short position but looking for a long position @ 12.70 this will take sometime to manifest but worth the wait as there's money selling to the awaited level. Have a great trading week & all the best on everything!!!
If I get stopped out, that woiuld only mean price wants to test the other golden level. My confluences had all lined up. *Disclaimer* This is not financial advice. Forex trading is a risky business. Exercise proper risk management. #TradeLikeMagnatrio
South African Rand strengthens over a weak dollar after a week of looting, the Government, especially the eThekwini municipality announced that there will be a financial aid plan for affected businesses and more.
Your entry criteria is also your reason for exit. Luckily, our TP was hit and immediately, started forming a falling correction. If this forms in a downtrend, 90% of the time, price is going to reverse. My second confluence is the divergence on my RSI. My third confluence is the 8 & 14 EMA cross over on the M15. Another confluence is the trendline violation. So...
Looking to make another sniper entry here.... then scale in. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are always key #Trade_Like_A_Magnate
As anticipated last week, USDZAR did go for a trendline retest, gave us a rejection, we made an entry and held. This is the progress now. Profits have been locked in order to have a risk-free trade. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. #Trade_Like_A_Magnate
The original idea was posted yesterday. *Disclaimer* This is not financial advice. Forex trading is risky. Trade at your own risk. #Trade_Like_A_Magnate
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...
I may be forced to change my view of a drop towards 13.20 if the pair fails to close this week below 14.00. A break above the 30-day MA rate of 14.25 will allow the pair to move into a range between the 200-week MA rate of 14.55 and the 61.8% Fibo rate of 14.51. A close above 14.51 will invalidate the move towards 13.20. The MACD indicator is working into a wedge...
Hello team, price broke our trend line and has created a sideway trend. lets focus on what price and structure.
USDZAR we will only buy when price reaches the support zone don't be impatient chasing the sell move right now
Potential bullish move for this pair. A falling wedge formed and is indicating a an up trend after the we saw a bearish impulse move. Together with the latest lockdown restrictions in South Africa.
USDZAR is already over sold and but there is more vision about sell as you can check in the weekly candle i will be retouch the 140.0000 but for medium term is should be retrace back their is a possiblaties as well. entries should be applied if all the rules are applied. do comment or Dm us