USDZAR Break of minor Uptrend Price has broken and retested Uptrend channel showing bullish pressure Longby SHAQZUpdated 5
USDZARGuys this is your mentor VHT yes sir. The head and shoulder, has held guys, I'm super excited it shows spending and a lot of chat timing helps. I called the inverse H&S now it has made it's impulsive leg no need to fear guys it's gonna make/it should make a pullback to the neck line again guys so those of you who didn't get in be patient guys like I always say, the market will always respect the patient. Sorry I didn't post this trade I'm a student in my final year so there has been a lot of work guys. But I'm committed to you guys. This is VHT your mentor signing out ✌️ ✨️ Longby Victor_Hunter_Turner1
USDZARPRICE BREAK OUT FROM THE RESISTANCE TO CAUGHT SOME SELLERS OUT ANT DECEIVED SOME BUYERS TO BE A BREAK OUT WHERE AS IT WAS A FAKE OUT. Second entry level activated to the down side. Entry Criteria is based on an impulse followed by a correction that form a flag.Shortby Okiji1232
SELL setup on $ZAR1W or HTF I think we're in a corrective move that might print out a continuation correction/bull flag where as if drop to 1D market print out double top to push down/sell off and give us a 3rd touch for 1W correction. Let's do top to down analysis check out what we've on 4H market reach area of value in an ascending channel followed by impulse up and impulse down which is a clean sign for reversal. So let's wait for market to print out a continuation correction/bear flag to confirm SELL opportunities. TRADING PLAN IS YOUR TRADING NAVIGATIONShortby market-tycoon772
$USDZAR Building a bear flagLooks like me might be building a bear flag. A break of the flag will see us go back to test R16,28 levels. by KoosKanmarUpdated 1
Short-term 4H chartThe rand had a tough week at the office last week which saw the local unit depreciate roughly 2.37% against the dollar. Risk-on sentiment gained some enthusiasm following Powell’s speech on Tuesday which hit the right notes regarding the Fed’s self-proclaimed victory over inflation. The sentiment however soured after US CPI numbers for the month of December were revised higher later in the week. The combination of negative local factors and the dampened risk-on sentiment saw the pair break past the critical resistance rate of 17.83 (blue 61.8% Fibo retracement rate) to touch the November 2022 high of 17.95. Tuesday’s US CPI results for January most definitely has market moving potential which could put the rand back on the ropes but there is potential for the rand to attempt to get the pair back below the critical rate of 17.83. The bearish divergence on the 4h RSI and the rising wedge formation is signalling a move lower towards the neckline of the upward channel and the 23.6% Fibo retracement rate at 17.70. I’m planning to drop some sell-limit orders above 17.85 with a take profit area between 17.60 (blue 50% Fibo retracement rate) and 17.70. There is every possibility that the rand could pull the pair as low as the critical support at 17.50 (orange 23.6% Fibo retracement rate as mentioned in previous ideas) depending on how markets digest the latest US CPI results on Tuesday, but I don’t see the rand maintaining rates below 18.00 for too long given the current macro backdrop. A failed break below 17.50 could see the pair climb back to the 2022 highs in the 18.50’s. (I'll post a longer-term daily and weekly timeframe idea during the week. I'm bearish on the rand over the longer-term)Shortby Goose96663
USDZARUSDZAR strong move to the upside 18.50 and as high as 20 rand in on the cardsLongby Sbo_Dhlamini2
USD ZARUSD ZAR is strongly moving to R18,00. Indicators are leading factors strongly motivating the movement. Possible pullback but then moving upward after reaching support 1. -Positive trend line. - momentum - highs on highs -the unfavourable political environment and the economic advantage it brings will likely push the currency towards R18.00.Longby matt19981409111
USDZARFundamentals aside, this pennant technical structure points to 18.50-19.00.Longby Innocentmaponde6
USDZAR(09-02-23)We Have A Potential Bullish FLAG, Should Price Break BULLISH We Continue With BULLISH TREND...by sifisomashimbyi11112
USDZAR LONGDemand zone has created a COS with rapid movement, BBSR has not been broken indicating price has not been oversold. Furthermore no supply zone touched so no need for further confirmation. Longby Dee_PassivetraderUpdated 3
South African Rand looking horrid target to R18.40Falling Wedge formed on USD/ZAR 7>21>200 -BUllish RSI >50 With the Jobs data coming out much better than expected, and with the rising interest rates - this seems to have a positive effect on the US dollar as investors are putting their money in it. The economy is clearly booming and earnings are coming out better than expected. My first target for the USD/ZAR is R18.40Longby Timonrosso5
USDZAR Hello guys. I'm in this trade already I took it from the lower time frame, and now we are running in profits. Although this is not the main pullback I just took/rode the wave of a volatile market. Longby Victor_Hunter_Turner1
USDZAR This is an inverse head and shoulder. After two long weeks of not trading guys it's time to start preparing for our buys updates will be given on how to go about it. VHT your mentor signing out ✌️ ✨️ Longby Victor_Hunter_Turner2
USDZAR - Short IdeaExcited to Post this idea: Have early double-top formation/head-and-shoulders formation. Anticipate a beautiful trade! Good luck!Shortby shashankrai2115
Catching pullback zonesThe dollar strength following Friday’s strong non-farm payrolls print continued in yesterday’s session which allowed the USDZAR pair to break through the blue 50% Fibo retracement rate of 17.61. The pair seems to have lost some upward momentum after hitting a high of 17.70. The rate of 17.61 will swing from a resistance to a support and a break below it will allow the rand to pull the pair onto the neckline of the updated green parallel channel and lower towards the orange 23.6% Fibo retracement rate of 17.50 (I’ll drop a daily timeframe in the comments for context) and the green 23.6% Fibo retracement rate of 17.46 (support range 1). Fundamentally there is not much supporting a strong pullback for the rand so the red zone between 17.46 and 17.50 is looking like an attractive buy zone (s1). The January risk-on sentiment was dealt a reality check last week which has seen dollar strengthen across the board and US equity markets are looking poised to pull back from their current overbought zones, which is rand negative. In that breath, it is however not unlikely that we see a deeper pullback into the range between 17.30 and 17.38 (s2). Technical indicators on the 4H chart is supporting this pullback; the RSI is trending downwards after falling out of the overbought zone and the buy signal of the MACD is losing momentum and may switch to a sell signal if the expected pull back materializes. Regarding our daily indicators, the RSI is still trending higher and the MACD buy signal is still solid. Looking over at the DXY, the index hit its 50-day MA resistance rate at 103.642 and its technical indicators are also supportive of a pullback for the greenback. by Goose96330
USD enters resistance zoneThe dollar has been on a nice run over the past week or so, especially against the rand. At he moment the pair has entered a zone of resistance for the dollar where we can see (in December) intra-day "spike" highs have been sold. It will be interesting to see if this zone holds, to give us an opportunity to short. Conversely should we see the dollar break out of this box, it could start to get very ugly for our little currency.... by RobbyP553
USDZAR ShortRunning/Expanded nearing completion Expecting resistance between 88.6 - 1.13 Fibonacci levels due to Bat Pattern formationShortby Henryq3
Nice pullback possible longA lot of confluences in this trade. Exotic pairs are awesome to trade as wellLongby eduardomendes92090
USDZARTHIS is my view for next week market broke structure it have been generating liquidity , imbalance is below supply and ob is above premuimShortby appronarioleonard117
Reassessment timeTime to reassess my position on the rand. I expected the 50-day MA rate of 17.15 to hold support for the pair during Wednesday’s turbulent session but Powell’s dovish comments regarding the Fed’s “successful fight against inflation” sent the dollar packing across the board. Equity markets staged an aggressive rally since Powell failed to decisively comment when questioned whether he was concerned about the stock market’s strong start to the year. The SPX and NDX have rallied roughly 2.67% and 5.76%, respectively, since Wednesday’s Fed rate decision. Risk-on sentiment certainly gripped the market in the past two session and the rand hopped on and rode the wave all the down to the 200-day MA level of 16.95. The break below the 38.2% green Fibo rate and the top of the green first impulse wave theoretically invalidates the 5-wave impulse higher towards 17.60 as previously predicted. A break and close below the green 61.8% Fibo retracement rate of 16.99 and the 200-day MA rate of 16.95 will allow the rand to pull the pair back onto the yearly low of 16.70, that is if the current risk-on sentiment is maintained. On the flip side a close above the 50-day MA rate of 17.15 will see the rand weaken back towards the resistance range of 17.39 and 17.50. The DXY pulled back most its gains yesterday following the FOMC demolishing of the greenback, so some rationality is coming back to the market. Given the current local uncertainties and easing of commodity prices, particularly platinum, I don’t see the rand holding the pair below the psychological level of 17.00. Technically the 4h MACD is losing momentum and looks set to cross to a buy signal and the RSI has bounced convincingly off the oversold zone which is rand negative. Don’t forget about today’s NFP’s print, it has the potential to move the markets later this afternoon. by Goose9612121
Pre-fed 4H USDZARThe upward momentum seems to be fading as we await the open of the US session. The orange 23.6% Fibo retracement at 17.50 is a strong resistance and psychological rate for the pair and I don’t see it giving way before the major Fed event tomorrow. Over the slightly longer term I’m bearish on the rand after the pair broke above the key 50-day MA level at 17.15 and 17.30. A pullback seems to be on the cards as the 4H RSI is topping out just under the overbought zone and the buy signal on the MACD is losing momentum. The pullback will likely see the pair slide into the range between the green 38.2% Fibo retracement rate at 17.18 and the 23.6% Fibo retracement rate at 17.30. The rate at 17.30 will also swing from a previous resistance to a support. (I’m personally planning to leave a few buy limit orders scattered in this range). Given all the market moving data releases and Central bank announcements I suspect we could see the rand weaken towards the range between 17.60 and 17.70. A break above this resistance range will allow the pair to climb higher towards the blue 61.8% Fibo retracement rate of 17.84. (I'll drop the daily timeframe chart in the comments below for context regarding the Fibo retracements levels I'm using) Also see attached my idea for the DXY as we prepare for Fed week!Longby Goose96Updated 665