JSE:GRT bounced off of a support level earlier this week and it has broken through a fractal level that it has been struggling with. It is looking good for a long position.
Like what I see here on ZARJPY. On the daily chart, we can see we hit a major support zone. On the 4 hour, we have been in a downtrend with lower highs and lower lows. However, the downtrend seems to be exhausting. We are seeing a double bottom here and even possibly a head and shoulders if we reject the neckline depicted and make a higher low. I would await...
Use this as a guide to develop your own setup, we will explain what we see and what we are waiting for opening our trade on USDZAR Main items we see on the 4hs chart: a)The Price found resistance on a Major Supply Zone (check the Weekly chart) b)The bullish trendline is broken, and currently, the price is on the outside zone of that trendline c)On MACD we can...
Hey traders! Below are the latest forex chart updates for Tuesday’s sessions. Learn from the provided analysis and apply the recommended positions to your next move. Good day and Good Luck! USD/ZAR The pair failed to breakout from a major resistance line, sending the pair lower towards a key support line. South African Rand is flat in today’s trading session as...
JSE:NED is showing a double bottom pattern. A double bottom usually signifies a change of direction so we can look at a possible long position if it confirms.
JSE:AGL has broken a downward trend as well as breaching the fractal from the 20th of August. Looking good for an upward move from here.
JSE:VOD is showing an bullish engulfing candle pattern at a support level. We can anticipate an upswing if the pattern plays out.
JSE:REM formed an engulfing candle yesterday which could mean an upward move.
Price has reached and tested downward trend line and has slowed down in momentum reaching it, on H1 time a smaller trend line has been respected. Waiting for a break to enter! Let me know what you think!
JSE:MCG has broken through a support level and a fractal that it has been struggling with for a while. We could see a downward move from here.
JSE:EXX failed to break through a previous low and has formed a double bottom pattern. We could very well see an upward swing from here. The stochastic also seems to be confirming the move.
JSE:FSR is struggling to break through a descending resistance line and if it confirms, it could mean a downward continuation.
JSE:APN has recently tested a spike low that it formed in March this year. It first it seemed like it had broken through, but it has since bounced and seems to be on its way up. Stochastic is confirming. If it breaks above yesterday's high, I will consider a long on Monday.
Price closed below the symmetrical triangle pattern and is currently going to retest the break. Failure at around the R15.28 zone will signal further strength for the ZAR. Stochastic on the daily has also been overbought and sloping downwards.
My idea for usd/zar = L and after breakout ATH - more positions
JSE:BHP is trading in a downward channel. It has reached the top and will most likely be heading down towards the bottom of the channel. Failing that, a break out through the top could mean a long position.