Based on the chart, Im seeing nothing else but a sell from here. Weekly has a crazy divergence between the price and the RSI. A Top was created in February 2016. Range 19 to 20 rands is a liquidity area. from here if price does not break above 20 rands, then expect more price drops from here. Based on my TA, from November 2023 till 22 January 2024 we were in a...
The USDZAR pair is trading above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), on a strong consolidation phase as it approaches the end of an 8-month Triangle. Having been rejected last week very close to not only the Triangle's top but also the (dotted) Channel Up top (Lower Highs trend-line), we have a strong short-term sell signal in our...
We might see R20 a dollar before continuation down to 13 etc, but if not the case then from where the price currently is then we might continue dropping. Shared an Idea on Monthly, and this is how Weekly looks.
FX_IDC:ZAREUR South African Rand ⏰ Timeframe: 1 Week ♦───📝📊───♦ 👉🩸 Bullish Head and Shoulders (confirm incoming) 👉🩸 "M" Pattern (target 0,0455) 📢💎 Long Term 🤔 👉✅ Bullish Head and Shoulders (confirm incoming) ♦────⚖️────♦ ✔️ Logarithmic (Log) Chart ✔️Logarithmic (Log) Fibonacci
Hope to buy EURZAR trade for higher high lower low situation.
Hello. Looking for USDZAR to make a move upwards. 1. Ending structure 2. MACD divergence 3. Looking for price reaction at Price 16.86 Trade with care
USDZAR is trading around the 1D MA50 on neutral technicals (RSI = 45.374, MACD = -0.003, ADX = 21.007) but on a long term Channel Up for the past 2 years. This current consolidation has been the accumulation period in the two bullish legs prior before the final rally to a Higher High. This is our buy entry and we aim at the top of the Channel (TP = 21.000). ##...
The USDZAR pair made a 4-month High last week, extending the 3-month rally since the Higher Low at the bottom of the Channel Up pattern on July 27. With the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) supporting, based on the previous Higher High, the price has one last run to make before getting exhausted. Our target is the 1.5 Fibonacci extension...
This sell could print really nice, price is right now trying breakout to the upside. If it fails to break, we could see it retracing back to around 18.15! My trendline was made with the first two tops that price made, giving the idea that price already tried and failed creating a fake breakout early this month. Will wait for today's candle closure. If below...
seems like getting ready for downside breakout formed ascending channel in daily timeframe and expecting downside breakout incase of successful breakout expecting bearish wave towards 21 keep eyes on for breakout
Looking at USDZAR on our weekly chart we can notice that USDZAR has been failing to break to the downside as has been respecting our previously outlined levels. To elaborate further we can take note of the fact that USDZAR’s failure to break through our 17.50xxx Psychological level confirmed a new higher low on the pair after which it started rallying back up and...
Inv H&S has formed on the USD/ZAR since 6 June 2023. The price has recently broken above the neckine, showing the US dollar is poised for upside. The DIXIE (US Dollar Index) is also showing upside to come. 7>21>200 and confirms the US dollar is going up. RSI>50 - Bullish First target is R21.00 ABOUT THE DIXIE: HOW IT’S CALCULATED The USDX is...
This analysis hurts my pocket. Travelling around and living in Europe means we pay in Euros. Hotels, flights, costs, etc... And I unpleasantly am doing an analysis showing how the Euro looks like more upside is to come. It's this kind of analysis I really hope I am 100% wrong. Anyway, upside is to come bease on the Reverse Cup and Handle. The price...
Potential Sell on USDZAR, Downtrend and rejection from 18.144 zone. Could expect further downside. SL: 18.19 TP1 : 17.898 TP2: 17.77 TP3 : 17.698
Back in January I predicted that the USDZAR pair will climb to the 2020 high of 19.35 if the rand fails to hold the pair below the critical support rate of 16.80. We’ve seen this move play out, and then some, which saw the rand slide to an all-time low of 19.90 this week as the pair completed its 5th major impulse wave. Now it’s time to look at what lies ahead for...
The rand has now posted convincing gains in the past three sessions off the back of an increase in global investor risk appetite following a strong US NFP’s print on Friday and the conclusion of the US debt ceiling debacle. An ABC corrective pattern seems to be the most likely move for the pair at the moment as per my previous idea linked below. The rand has...
JSE:NED has broken out of a sideways consolidation that it has been trading in since mid April. With the current momentum, I think we could see a move all the way up to the highs last seen at the end of March 2022.
JSE:MRP is showing good upward momentum and has triggered our long trade. Our target lines up nicely with the support/resistance level at 160