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Bullish USD/ZAR Forecast

TheAnalyst Posted 20 Aug. as Analysis on USD/ZAR, Target: 15.2565, Date: 1st of October, 12:00 GMT  in #Technical analysis #Forecast #USD/ZAR
Looking at the monthly chart we are going for a bullish prediction for October. The pair broke through a channel and the MACD has turned positive.
Worrying signs for a bullish prediction include the timing and the MACD indicator. The timing is that the broken channel happened on the news about Turkey and the diving Lira. On top of that we don’t have a solid confirmation since the monthly close is in a couple of weeks. As for the MACD indicator it has turned at a level where it could easily turn…
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Bullish Movement After August

TheAnalyst Posted 15 Aug. as Analysis on USD/ZAR, Target: 13.81, Date: 2nd of October, 12:00 GMT  in #Technical analysis #Dollar #USD/ZAR
Based on the monthly and weekly chart we believe the pair won't retry the lows at the 12.40 price level, but will instead push through resistance at the previous weekly high at around 13.60.
Selling pressure is expected for August and the bullish move to happen sometime in September perhaps prompted by bond-buying program-related news and other signals from the FED. Lots of uncertainty remains and will remain for the rest of 2017 though, mainly political-related.
Nevertheless, based on technical…
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4 Comments
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TheAnalyst 27 Sep.

After struggling for several days to surpass the 13.30 level and with downward pressure steady the pair managed to break through the previous daily highs and currently stands at 13.53. Within the day the next level that the USD/ZAR is likely to reach without too much effort is 13.60 and within the week the 13.72 level. The cap for this week and early next week should be around 14.00 with 13.8 as the first resistance.

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TheAnalyst 28 Sep.

As expected the USD/ZAR reached the 13.60 level yesterday and earlier during the session today reached the next expected level with a high at 13.705 today. There was some selling at this level which resulted in a drop to 13.50, but with US GDP numbers encouraging at the MA just above 13.45, the drop could very well be a correction and see the pair ending the month or beginning the next month at closer to 13.77.

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TheAnalyst 30 Sep.

The correction early during Friday trading stopped and the pair recovered some ground closing at around 13.55. It might try for the highs again and even overshoot at around 13.77 on Monday. Overall, considering the downward pressures the pair faced during most of August the Fed and good US data gave the pair the expected boost and bullish momentum.

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TheAnalyst 2 Oct.

Early in the European session the pair looks poised to retry the highs at around 13.7. Currently standing at 13.64 compared to last week's close at around 13.54 . If there's a break then next immediate target is 13.82, which considering the pair's movements could happen within the day.

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Today's Trades

TheAnalyst Posted 6 June  in #Trader's blog #USD/JPY #EUR/USD #USD/ZAR
A LONG trade in USD/ZAR with a modest position size was entered and exited within the day, profitably.
A SHORT trade in USD/JPY is currently active with profit target 108.9 and big position size since technicals are looking strong.
Finally, our LONG EUR/USD trade from last week is still active, with the pair struggling to move up. Keeping our stop relatively small we remain in this LONG trade despite the politically-charged week with UK elections and ECB conference coming in.
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USD/ZAR, EUR/AUD, EUR/USD and US Payrolls

TheAnalyst Posted 2 June  in #Trader's blog #EUR/USD #EUR/AUD #USD/ZAR
A bad LONG trade in USD/ZAR, before the US payrolls numbers and a EUR/AUD LONG trade that didn't pan out in the timeframe we were hoping for (due to margin reasons) set us back today.
A EUR/USD LONG trade seems promising as the pair seems poised to reach 1.14 and move on up from there in the month.
A USD/ZAR SHORT trade was also initialized with the pair having the potential of making a big movement. Will be monitoring this particular pair though and might opt out closing it sooner than expected.
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