USDZAR has been bearish for quite some time now, breaking several structures downwards too. On both the weekly and daily TFs you can see some imbalance downwards which seems to be attracting the price further downwards to demand. From what I can see on the 4H - price has actually respected previously created blocks, especially after the most significant break...
Despite the South African local election being only 14 days away, speculation of U.S. interest rate cuts over the last two months has supported the rand momentum. We're approaching a crucial level at the Fibonacci retracement, but a reversal may be unlikely given a widening USDZAR carry trade and a disinflationary U.S. environment, which will support the ZAR's...
Seems like completed A wave, short and long idea.
We have 4h liquidity sweep, shifted bullish and initially made a minor sweep to mitigate the breaker block, followed by the first break to the upside then after an internal sweep to mitigate the order block… looking for a pullback to the unmitigated order block then a hike to the buy side liquidity…
The USDZAR pair is trading below both its 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), having formed a Channel Down (blue) since the start of the year. The 1D RSI hit the bottom of its Rectangle, so even though there is some limited downside on the Channel Down before forming a Lower Low, the reward is much higher on the upside. Assuming a Lower...
USDZAR sells are not completed yet coming from a double top. Take advantage of this last bear momentum. Target is 18.22.
USDZAR on the daily timeframe presents an intriguing technical setup characterized by the formation of an ascending triangle pattern. An ascending triangle typically indicates a bullish bias in the market sentiment. Consequently, there are two potential scenarios to consider. Firstly, the price action may encounter support around the lower boundary of the...
Based on the chart, Im seeing nothing else but a sell from here. Weekly has a crazy divergence between the price and the RSI. A Top was created in February 2016. Range 19 to 20 rands is a liquidity area. from here if price does not break above 20 rands, then expect more price drops from here. Based on my TA, from November 2023 till 22 January 2024 we were in a...
This might be the last bullish stretch on USDZAR before potential downward movement towards 17.9
USDZAR looking to bounce off local support. Buy at 19.14 and take profit above 19.35
The USDZAR pair is trading above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), on a strong consolidation phase as it approaches the end of an 8-month Triangle. Having been rejected last week very close to not only the Triangle's top but also the (dotted) Channel Up top (Lower Highs trend-line), we have a strong short-term sell signal in our...
Awaiting a breakout of the bullish channel and price could hit targets; 19.20 or 19.50.
HI FRIENDS!! As we can see this USDZAR again near at support zone we have good chance to join the rally as we can see US $ is holding support and all major pairs. this pair is also holding a strong support and trading above a uptrend line zone, so our risk and reward ratio is fantastic on this pair let's see what markets brings its just a trade idea share Ur...
18.66 has proven to be a strong zone for this pair. Throughout the past 2 years, price has shown strong reaction in this area. I see price rising to 19.60 in the next month. Let me know what you think in the comments.
This pair is trading in a bullish trend. Continuation from 18.8 all the way to 19.5 and possibly beyond.
USDZAR some interesting developments for the Rand bulls. 50dma < 200dma (death cross). 3 lower highs forming what could be a potential flat bottom triangle with the base at 18.10-18.20. Some bullish characteristics here which could be shifting sentiment in favour of the bulls but it's still too early too call. Range bound between 18.95 and 18.20 now. A convincing...
A clear bullish move is in set for USD/ZAR in order to fill that massive imbalance on the left side. Wanting to enter off strong demand zone where we can see price react off of and consolidate in the past. Watch out for the liquidity depicted by the arrow. Only enter if there is a slow move to entry otherwise price may want to first capture that...