USDZAR Up 30 Pips On Hourly Chart; Nears 20 Day Moving Average

Hourly Update

(Last Updated May 6, 2021 3:16 GMT)

At the moment, USDZAR’s rate is up 30 pips (0.02%) from the hour prior. This is the 2nd straight hour USDZAR has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDZAR. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 14.3617, down 924 pips 0.64% from the day prior. Compared to its peers in the Forex, USDZAR gave its buyers a return that ranked 37th in terms of percentage change since the day prior. Let’s take a look at price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

The first thing we should note is that the current price of USDZAR is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for USDZAR has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. For additional context, note that price has gone down 17 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 1 buy signals. Bulls may note that this suggests a buy/sell ratio that is 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.

we can see that the pair respect flags so wait for the break out bgefore locking for BUYS and we can see that our trend it’s still bullish For more Swinging Analysis follow me #USDpairs