USD/ZAR Up 741 Pips in Last 4 Hours, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

USD/ZAR 4 Hour Price Update

Updated March 26, 2020 05:12 AM GMT (01:12 AM EST)

A moment of silence, please, for the end of USD/ZAR’s 3 four-hour candle down streak; price ended the last 4 hour candle up 741 pips (0.43%) to finish the four-hour candle at a rate of 17.3654. Relative to other instruments in the Forex asset class, USD/ZAR ranked 5th the last 4 hour candle in terms of percentage price change.

USD/ZAR End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/ZAR is down 2108 pips (1.2%) since the previous day (opening today near 17.2924), marking the 3rd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, USD/ZAR ranked 31st the previous day in terms of percentage price change. Let’s take a look at price chart of USD/ZAR.

USD/ZAR Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 20 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDZAR; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Waiting for it to reach it’s lower high. Then I’ll sell