USD/ZAR Down 200 Pips in Last 4 Hours, Outperforms All Forex; Pin Bar Pattern Appearing on Chart
The closest is the 20 day average, which is 2077.8 pips away.
USDZAR
(Last Updated July 2, 2020)
Hello! This is the news page for USDZAR. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
If we observe the 90 and 14 day timeframes, we see a downtrend in place for USDZAR.
USDZAR Moving Averages
The moving averages on USDZAR summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 50) — are bullish, implying a upward trend, aside from a decline about 7 weeks prior.
The chart below illustrates.
As for assets in the Forex asset class USDZAR has been correlated to over the past week, it has demonstrated the strongest correlation with ZARJPY. USDZAR has been most correlated with ZARJPY over the past 14 days also, so this may be a recurring pattern. Alternatively, the asset least correlated with USDZAR over the past week has been CADCHF, but if we observe the prior two weeks, the asset least correlated with USDZAR has been GBPNZD. The chart below illustrates USDZAR against its least correlated assets.
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USD/ZAR Up 200 Pips in Last 4 Hours, Outperforms All Forex; But Still in a Downtrend Over Past 14 Days
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
USD/ZAR Down 39 Pips in Last 4 Hours, Moves Up For the 3rd Day In A Row; Price Base in Formation Over Past 14 Days
The closest is the 20 day average, which is 1783.2 pips away.
USD/ZAR Up 76 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.
USD/ZAR Down 102 Pips On 4 Hour Chart, Moves Up For the 2nd Day In A Row; Price Base in Formation Over Past 14 and 30 Days
The closest is the 20 day average, which is 1289.1 pips away.
USD/ZAR Down 207 Pips On 4 Hour Chart; Price Base in Formation Over Past 30 Days
This imputes a buy/sell ratio of 0.25, which is bearish.
USD/ZAR Up 665 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart
Compared to its peers in the forex, usd/zar gave its buyers a return that ranked 3rd in terms of percentage change since the day prior.
USD/ZAR Down 374 Pips On 4 Hour Chart, Tops All Forex; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 8 out of the past 14 days.
USD/ZAR Up 204 Pips On 4 Hour Chart, Underperforms All Forex; Moves Down For the 3rd Day In A Row
The closest is the 20 day average, which is 1476.9 pips away.
USD/ZAR Up 184 Pips Over Past 4 Hours, Moves Down For the 2nd Day In A Row; in an Uptrend Over Past 14 Days
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.