USDZAR Up 104 Pips On Hourly Chart, 6 Day Up Streak Snapped; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 4, 2021 3:15 GMT)

At the time of this writing, USDZAR’s rate is up 104 pips (0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly 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.

USDZAR End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 6 up days, USDZAR snaps its streak, falling 1729 pips (-1.12%) over the past day to close at an exchange rate of 15.2589. Out of the 39 instruments in the Forex asset class, USDZAR ended up ranking 38th for the day in terms of price change. Let’s take a look at price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

The first thing we should note is that USDZAR is now close to its 20 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 16 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDZAR; just 0 sell signals and 2 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

UZ break the Resistance and could be now Support potential Long Setup – Feedback Welcome