Downside risks has been dominated the USD/ZAR exchange rate since the pair reversed from the upper boundary of a medium-term ascending channel at 15.47. During this week the currency pair has been trying to surpass the resistance cluster formed by a combination the weekly and monthly PPs, as well the 55-, 100-, 200-hour SMAs and the Fibonacci 23.60% retracement...
Price has presented an opportunity to press the ZAR to 16.50 The 4hr bearish trendline was broken and new support was found to the upside. I am well aware that the USDZAR can become extremely volatile, hence the tight stop. Any break below the current trend line and i will be taking profit.
Price has broken away from its current bearish trend line. We are currently seeing buyers forming a new bullish break higher. I am expecting price to push through to the 18.10 mark
Symmetrical triangle usually forms during a trend as a continuation pattern. so there is a higher chance of breaking out to the DOWNSIDE
The South African Rand has been appreciating against the Japanese Yen since the beginning of September after the pair reversed from the lower boundary of a medium-term channel at 7.12. As apparent on the chart, the pair is trading near the upper channel line. From the theoretical point of view, a reversal could occur in the nearest future. Technical indicators...
TP = 15.400 hit, quicker than expected, as the 1W Channel Up (RSI = 57.959, MACD = 0.486, B/BP = 1.1840) aggressively moved towards a new Higher High. Equally aggressively it has pulled back (Highs/Lows = 0) to a new Higher Low on our projected curve support. We have already bought this low and our long's TP is 15.88200.
FX:USDZAR Stuck in the up trend channel but testing bottom of it. Quite overbought so could be we some some strength for the #RAND here.
The South African Rand has been appreciating against the US Dollar for three sessions after the USD/ZAR pair reversed from the upper boundary of a medium-term ascending channel at 15.65. As apparent on the chart, the US Dollar has reached the weekly R1 at 15.04. In addition, the pair is pressured by the 55– and 100-hour SMAs. These two factors allow to think...
AUDZAR Cup and Handle pattern detected! Good to go long.
Set up for another chance on the USDZAR, Lower Low, and a Double top set up on the 30min. what do you guys think? whatsapp: +27 78 864 5409