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USDZAR

(Last Updated February 24, 2021)

Welcome to the news page for USDZAR (USDZAR). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for USDZAR

metric_name reference_period asset_name asset_id date time forecast outcome
South Africa 2021 National Budget NA South African Rand ZAR 2021-02-24 12:00 GMT
United States New Home Sales MoM Jan 2021 US Dollar USD 2021-02-24 15:00 GMT 2.1%
United States New Home Sales Jan 2021 US Dollar USD 2021-02-24 15:00 GMT 0.855M
United States Fed Chair Powell Testimony NA US Dollar USD 2021-02-24 15:00 GMT
United States Fed Brainard Speech NA US Dollar USD 2021-02-24 15:30 GMT

The Trend

On USDZAR, there is currently a downtrend on the 90, 30 and 14 day timeframes.

USDZAR Moving Averages

Across several time periods between 20 and 200 days, the trend on USDZAR has remained consistently bearish.

Below is a chart showing USDZAR’s price with its moving averages.

In terms of correlations over the past week for USDZAR, it has demonstrated the strongest correlation with USDNOK. If we zoom out to a two week basis, though, ZARJPY is the asset most correlated to USDZAR. Alternatively, the asset least correlated with USDZAR over the past week has been USDSEK, but if we observe the prior two weeks, the asset least correlated with USDZAR has been CADCHF. The chart below illustrates USDZAR against its least correlated assets.

.

The View From the Weekly Timeframe

At the time of this writing, USDZAR’s rate is down -1106 pips (-0.76%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows USDZAR’s price action over the past year.

USDZAR: The Monthly View

Monthly trend: strongest on the 120 month timeframe.

USD/ZAR Down 346 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags USDZAR
March 1, 2021

And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.

USDZAR Down 62 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags USDZAR
March 1, 2021February 26, 2021

But, let’s not get carried away with that idea just yet. 🙂 as for the rationale, technical traders seem to be citing the appearance of a supply zone technical pattern.

USDZAR Down 62 Pips On Hourly Chart, Makes Big Move Relative to Past Month; 2 Day Down Streak Broken

Categories Forex News Tags USDZAR
February 26, 2021February 25, 2021

Price action traders may also wish to note that we see a pin bar candlestick pattern on usdzar.

USDZAR Down 195 Pips in Last Hour, Entered Today Down For the 2nd Consecutive Day; in a Downtrend Over Past 14 Days

Categories Forex News Tags USDZAR
February 26, 2021February 24, 2021

Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.

USDZAR Down 290 Pips in Last Hour, 2 Day Up Streak Ended; in a Downtrend Over Past 30 Days

Categories Forex News Tags USDZAR
February 25, 2021February 23, 2021

Price action traders may also wish to note that we see a doji candlestick pattern on usdzar.

USDZAR Down 5 Pips in Last Hour, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags USDZAR
February 24, 2021February 22, 2021

Price action traders may also wish to note that we see a doji candlestick pattern on usdzar.

USDZAR Down 84 Pips On Hourly Chart, 2 Day Down Streak Ended; in a Downtrend Over Past 14 Days

Categories Forex News Tags USDZAR
February 22, 2021February 19, 2021

Relative to other instruments in the forex asset class, usdzar ranked 12th the day prior in terms of percentage price change.

USDZAR Down 238 Pips Over Past Hour, Moves Down For the 2nd Straight Day; Doji and Pin Bar Patterns Appearing on Chart

Categories Forex News Tags USDZAR
February 19, 2021February 18, 2021

Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.

USDZAR Down 15 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags USDZAR
February 19, 2021February 17, 2021

Or to simplify this another way, note that out of the past 14 days usdzar’s price has gone down 10 them.

USDZAR Up 14 Pips On Hourly Chart, Outperforms All Forex; 3 Day Down Streak Broken

Categories Forex News Tags USDZAR
February 17, 2021February 16, 2021

Of note is that the 100 hour changed directions on usdzar; it is now pointing down.

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