From a partly cloudly but buzzing Johannesburg, South Africa!
The 240 min chart (which I consider short term based on ZAR volatility) is currently 50/50 and could either be some kind of H & S / ABC formation headed to sub R14.10 (which would be a massive buy) or could consolidate to breakout higher.
If this is a consolidation to trade higher be...
This is my idea the direction ZAR/USD is going to take .
Due the economical situation is ZAR and spring compeing up the economy is going to start up again from the septembar .
Recovering ZAR up 10 % while it is going to hit the resistance of the market , unless we see some surprising events from the White house.
I am still new to this so my apologize if ...
Looks like a potential very nice setup here. With the big wedge on the left and the low time frame one on the right. So i am going to follow this one closely, to see if we find some resistance at the high while staying below the red zone. Because this one has long term potential, i am going to build up a pos here. So starting small and building it up on the way...
Not much to say here due to the nature of the trade being a short one and relying solely on technical analysis.
Time frame: 1H
Length of Trade: 1 day to 2 days
Entry: Between 14.5000 to 14.5400
This one made a big rally the past weeks, even getting above that green zone on the left without hesitation. Now it has some resistance from that channel, but because the move up was so strong, it is becoming more likely that it will break sooner or later. Normally we should see it make a healthy correction first the coming week or so. On the right we can see a...
Sometimes i just get really scared of myself :) Anyway, so far going almost perfect. The entries are already in since the bounce up was so strong this time. I have added a third entry for this game plan, that is if we see a daily close above that red zone, i will add even more to this position if we see something like a bull flag happening.
If this plan works...
There is possible bullish wedge here. It's not the best one but there are many good characteristics of a wedge. I am going to play it safe and will wait a bit more before i will get in. I want to see it go towards the support line one more time and see it get find some support there. Then i will get in with half a position and make the position complete after the...
The zar has a strong correlation with both RIO and BHP two large gold mining companies with major assets in SA. Both of these companies have strong bullish trading symbols as gold is becoming more of a buy as the dollar weakens (gold is a safe haven for dollar holders).The USD is dropping surrounding a lot of political turmoil and uncertainty in the US along with...
ZAR USD FX_IDC:ZARUSD
How Cyril's impact as a new president could initiate a new bullish trend and combined with US Stock markets, ZAR could see SUB $11 or dare i say $9.
*speculative events that impacted perception of these two currencies.*
ZAR/JPY 4H Chart: Climbs towards 8.40
The South African Rand is actively appreciating against the Japanese Yen in a one-month long ascending channel. The pattern represents a part of a larger falling wedge formation.
Accordingly, the surge is expected to continue. This assumption is supported by the rising 55-, 100- and 200-period SMAs that are moving along...