USDZAR NEXT TRADE SETUP
USDZAR broke major down trendline on H4 time frame and create a "W" pattern in H4 and D1,w1 time frame.
Price broke key level at level 17.5000 Strong Resistance level thats the secondary supply with strong bullish movement and now at point 17.9999 and it can restest its near support at secondary supply at point 17.5000 .
and if it breaks the secondary supply support than its next target will be point area 16.5000 thats belong to the Monthly Resistance .
According to fundamently Usd is going to be strong more Todays and last week DXy and stocks are bullish and GOld is declining towars 1900.
if its break the W pattern and adopt the secondary supply towards sell zone so its going to Monthly Resistance
It's expected for the continuation of bullish movement to first target resistance level at 18.2000
then finally target supply zone at level 19.0000
All the Entries should be taken only if all the rules of entries are applied.
Comments
Usdzarlong
USDZAR Double Bottom Pattern USDZAR formed a double bottom pattern, but we need to observe whether we are ready to open position or not by checking DXY.
Whenever DXY turns bullish you can open your positions to count your pips!
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Buy the Breakout of 17.04... Exotic Pairs Rise in USD Weakness!!Exotic Pairs Rise in USD Weakness!!!! Buy USDZAR, USDNOK, USDMXN
From last couple of years.. whenever there is weakness is in USD.. the Exotic pairs always gone for more rise and new highs!!! So right now USD weakness is all over place.. but exotic pairs starting showing potential to go upside.. USDZAR has made double bottom on 4hr and Daily.. Only thing is stalling it 200 sma on 4hr.. and then we have 50 sma on Daily.. Once clearly 17.02 taken out i am expecting another new high by taking out 19.34!!!!! I think correction has ended so a new wave is on its way.... maybe this time 21 or 23.0?
Chart of usdzar is very clear.. and USDMXN is also getting ready to test its upper resistance trendline..
USD/ZAR, we got a clear Breakout of the Range.USD/ZAR was very bearish for the past few weeks, but to be honest, this is a clear trend change in my opinion. We will be monitoring price action and if all the rules of our strategy will be satisfied we will be interested in taking a nice long, with good risk to reward and probabilities for a nice push to the upside.