I'm anticipating a Double top on USDZAR h4. The pair broke the trendline signalling a potential move to the downside. Now we wait. RRR is 1:3 but, I think we can hold longer.
Sell USDZAR at current market price
Price is moving in a channel and has currently formed a bearish pin bar on lower timeframe indicating a reversal is likely to happen.
Sl 14.66000
Tp @ 14.32000
USDZAR is at a critical level where the price tends to reverse on 3 occasions, will price break it or reverse?
USD seems to be gaining strength this week. i will wait and see if the price can break the zone and continue on a bullish move, I will wait for the retest to confirm my entry.
And if it pulls back, i will still wait for a retest to confirm my...
USDZAR is find it self in a narrow R14.30 to R14.50 band, finding support at R14.30 and with the downward channel the USDZAR finds it self in from Sept 2019, the ZAR is trading its self into a wedge formation. With all the risk off sentiment going around and that we can find that we break briefly above R14.50.
Relative Sector Analysis | Rand Gold Price vs JSE All Share Index | The following is a relative chart of the Rand/Gold Price vs the All Share Index where are seeing a falling channel/bull flag breakout suggesting that the former is looking to out-perform the latter on a relative basis. The price has broken out of the channel after having found support on it’s...
FX | USDZAR | Short Term | The pair has found support for three consecutive days at the prior breakout level, that being R14.30. We previously saw a rejection at the downward trend line, the 200-day simple moving average and the prior support. In the short term the bears appear to be in control however a clear break of the downward trend would see 14.60 open up as...
Have been shorting this since last year and it’s still a bear. 14.54988 represents a critical support and resistance zone. price bounced and rejected off this level multiple times. At H4, price broke the ascending trendline and has pulled back, CMP currently at 61.8% fib level.
If price breaks above 15.00000. setup will no longer be valid
USDZAR still Looking Mid Term Bullish here. Expect a drop Short term before making higher highs.Not looking too good for South Africans going forward. Should see some reprieve after a year or 2 and a lot of strength
After testing the senior channel at 13.10 two weeks ago, USD/ZAR initiated a new wave north along the bottom boundary of this pattern. This movement soon lost its strength, thus resulting in minor consolidation starting from the beginning of August.
The pair’s most recent development is a breakout from a strong resistance cluster formed by the monthly PP, the...
The U.S. Dollar vs. the South African Rand. The Rand was and became legal tender in the late 50’s to early 60’s for South Africa, Swaziland, Lesotho and Namibia after moving away from the Pound. After the apartheid era sanctions the Rand experienced a great deal of volatility and depreciation.
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