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USD-ZAR

Market News and Charts for September 03, 2019Hey traders! Below are the latest forex chart updates for Tuesday’s sessions. Learn from the provided analysis and apply the recommended positions to your next move. Good day and Good Luck! USD/ZAR The pair failed to breakout from a major resistance line, sending the pair lower towards a key support line. South African Rand is flat in today’s trading session as investors and traders await South Africa’s second-quarter GDP results. Analysts were already looking towards a weaker GDP report as South Africa’s debt is spiraling out of control and might cripple the country’s economy if no action will be taken. Aside from this, the U.S.-China trade war is expected to escalate on African futures. In April, the World Bank downgraded sub-Saharan Africa’s 2019 growth forecast from 3.3 percent to 2.8 percent. South Africa is also hit by the nationwide power outages by cash-strapped power firm Eskom. The United States slapped 15% tariffs on Chinese goods on Sunday – including footwear, smart watches and flat-panel televisions – while China imposed new duties on US crude oil, heightening fears of a global economic slowdown. FinanceBrokerage - Market News: USD/ZAR Chart USD/RUB The pair is seen to continue to move higher in the following days and to breakout from a key resistance line. U.S. President Donald Trump is once again making an unconventional move after he suggested to bring back Russia in the Group of Seven (G7). Russia was kicked out from the Group of Eight (G8) in 2014 after it annexed Ukrainian territory of Crimea. Ukraine is applying to become a part of the European Union, which is a member of the group (due to its role in the world economy). Analysts see the move as a preparation for the U.S. to influence the potential successor of Russian President Vladimir Putin. Putin has been Russia’s president since 1999. Despite Putin turning Russia into a military power once again, he failed to address domestic issues, specifically its plunging economy. Russia is one of the nine (9) countries on the verge of recession following the global economic uncertainty and slowdown. FinanceBrokerage - Market News: USD/RUB Chart USD/ILS The pair is expected to continue its downward movement and move towards its previous low. Secretary of State Mike Pompeo reaffirmed U.S. commitment with Israel saying America will give Israel diplomatic, legal, and military support in any war with Iran following the narrowing relationship between the United States and Iran. Iran had recently threatened to block the Strait of Hormuz, where 33% of world’s liquefied natural gas and 25% of total global oil consumption passes, making it a highly important strategic location for international trade. Under the term of U.S. President Donald Trump, the relationship between the two (2) countries had reached its high, specially Trump’s acknowledgment of Gaza Strip, West Bank, and Golan Heights as Israel territory. This helps Prime Minister Benjamin Netanyahu on his reelection bid. However, this relationship is already being challenged in the U.S. Congress by Muslim lawmakers. FinanceBrokerage - Market News: USD/ILS Chart USD/CZK The pair will continue its rally after it found a strong support line, sending the pair higher toward its 28-month high. The United States had completely aligned the Visegrad 4 – Hungary, Poland, Czech Republic, Slovak Republic – to its plan. These countries were now recipients of U.S. military equipment that can be used to contain Russia’s rising military and influence in Eastern Europe. Aside from this, the V4 successfully challenged the Germano-Franco leadership inside the European Union with the European Commission President-Elect Ursula von der Leyen visiting the members before she takes her position. The U.S. was also able to pressure the Czech government to dissed China’s telecom giant Huawei as it tries to expand in Europe through the Czech Republic. The Visegard has also recorded the lowest unemployment rate in the European Union, which signals that economic power might have shifted to eastern Europe. FinanceBrokerage - Market News: USD/CZK Chart
by Financebroker
Large Correction For More UpsideUSDZAR is currently forming a larger correction that I initially anticipated. This means that the correction that I had looked at before as being a 3 wave correction, was actually only wave 1 of the larger correction. Looking at the current setup, I expect price to break the low of wave one, market with the red line, before there is a reversal to the upside. I will be looking to enter the long when a reversal confirms but may look for smaller trades to the downside in the interim as well. Happy trading! Linton White JP Markets South Africa
by Linton_White
Short Setup on USD/ZAR by ThinkingAntsOkMain items we see on the chart: a) Price has broken a Wedge formation b) After the break out, the price formed a pennant pattern c) Pennant patterns are considered continuation structures d) If the price breaks down the pennant pattern we will use Fibonacci retracement levels, to define our TP1 and TP2 Based on the previous items, if price breaks down below 14.18 we expect a continuation of the bearish movement towards first Fibo “1.272” and then to the second Fibo level “1.618” at 13.75500 Daily vision:
Short
by ThinkingAntsOk
1
PULL YOUR PANTS DOWNWe can see marked out on the chart a strong area or support and resistance, we are expecting price to make its way into this zone and when it does we will be looking for a buy... Patients is key in trading and if you don't have any the markets will pull your pants down and shove a rather large hard object somewhere that might hurt. In this game if you rush into trades you might as well just burn your money ( or give it to me as burning really is wasting it ) my bank details can be provided on request ;p Just remember not to chase trades and instead let them chase you... a little bit like playing kiss chase as a kid, you didn't want to chase the ugly kids ( bad trades ) but if the good lucking kid ( good trade setup ) came after you then you would suddenly forget how to run and take the kiss ( pips/ money ) like a trooper haha. I know I have an unorthodox way of explaining trades and setups, but I'm just trying to make things more fun, so I hope you like them :) If you like my style then drop a comment in the comment section and let me know.
Short
by ApexFX_Pro
USDZAR Bearish wedge inside of bearish wedgeLooks like a potential very nice setup here. With the big wedge on the left and the low time frame one on the right. So i am going to follow this one closely, to see if we find some resistance at the high while staying below the red zone. Because this one has long term potential, i am going to build up a pos here. So starting small and building it up on the way down after real confirmation. Past 2 trades on this pair played out perfect, following basic TA better than others. So with some patience this one could work out greatly as well. Previous analysis:
by botje11
3
USDZAR: Sell opportunity after a Resistance rejection.The pair is pulling down on the 1D chart and has reached its pivot point (RSI = 50.729, CCI = -28.2213, Highs/Lows = 0.0000). This should accumulate some buying pressure to take it slightly higher only to be most likely rejected again towards the 12.90 - 13.87 Support Zone. We are short with TP = 13.900. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope