THIS ANALYSIS IS BASED ON A BIT OF FUNDAMENTALS AS I APPRECIATE TRADING THIS PAIR MORE ON FUNDAMENTALS AS IT IS VERY SENSITIVE TO THOSE, THIS TIME AROUND IT MIGHT ALSO BE ONE OF THOSE CASES AGAIN. ESKOM, THE POWER SUPPLIER TO SOUTH AFRICA HAS BEEN IMPLEMENTING POWER CUTS, AND THIS USUALLY DRIVES THE RAND WEAK, AND WITH THE TECHNICAL ANALYSIS THE RAND BEING AT A...
Although the South African Rand started off the week under pressure with the IMF firstly downgraded SA’s GDP growth forecast to 1.1% for 2020 (from previous 1.5%). This was followed by Eskom again announcing load shedding in South Africa. What is ironic is the fact that the IMF in the above-mentioned report contributed the better second quarter growth to a more...
usdzar map hr1. fork grounded with circle intersections and negative vector space. price dictate everything shape so its valid. nice sell zone estimation by red line. price comes above and then goes back down, nice trade-able pattern . sl previous highs and move stops down to see if it continues.
The pair price has broken the bearish flag with a continued downward tendency. We expect the price to resume its fall as low as 14.70 as long as it persists below the 61.8 Fibonacci.
This idea is for demonstration and study purposes only and does not constitute a signal to sell. On higher timeframe we had wick rejection at key level in the market. Price had bearish run today, short -term, and appears to be re-testing trendline for continuation/drop to the next key level. This study is for zone to zone with no attempt to guage movement of the...
USDZAR broke up trend line and full down
up correction wave end now , 50% Fibo reject price
Strong key level also @ 15.0500 reject price
RSI on H1 show sell signal
volume profile show hard resistance on the same level plus it's Round number , which banks use it to change price direction
The South African Rand, making its intentions loud and clear this week! By far the strongest BRICS. This was mainly driver by the announcement yesterday that the US and China has come to “a partial deal”.
#BRICS currency/USD movements for this week:
Brazil -1.2%
Russia +0.7%
India -0.1%
China +0.8%
South Africa +1.6%
Euro/USD +0.6%
Technically, the...
Short Usd/Zar on retest of our Weekly Res @15.2979, SL or Invalidation Period @15.6896 TP1 =13.7117, TP2 =13.2223. Long term Target @ 11.501. NB, hold till SL or desired TP. A trade is still valid unless SL hit....
The Rand is still refreshing, I think the trend is down.
This looks like possibly a distribution on that 50% retrace.
A tight stop and high RR is key.
Maybe it will go down, maybe not.
Don't need to be 100% sure.
DAILY DREAM ALERT - NON REPAINTING
Daily trend short
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DAILY DREAM ALERT - NON REPAINTING
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Simple set up with Daily time frame trend indicator.
Easy to define trends &...
Currently price action is trading low and we can verify we are approaching the sell zone. currently 23.6
price will target Previous low 78.6
5.5% Bear action
Using pattern we can verify its a M pattern and target is certain
slow but steady its gonna be a swing trade
hoping the Powell news drive it lower in favor.
Bag safely...its a blessed week ahead.
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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