USDZAR Up 42 Pips Over Past Hour; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated April 26, 2021 3:16 GMT)

Currently, USDZAR’s rate is up 42 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)

The back and forth price flow continues for USDZAR, which started today off at 14.2685, down 290 pips 0.2% from the day prior. Compared to its peers in the Forex, USDZAR gave its buyers a return that ranked 32nd in terms of percentage change since the day prior. Here is a 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. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 10 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 1 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

THE WAY I SEE IT .THE NEXT PATTERN THAT IS GOING TO BE FORMED IS NEUTRAL .BUT IF IT GOES BEOW THE RED LINE WE ARE HEADED TO THE GREEN.THOUGH MY OPTION IS TO BUY AND THE FIRST TP IS 15.73465