(Last Updated January 12, 2021 2:16 GMT)
At the moment, USDZAR’s rate is up 13 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
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 15.5164, up 2549 pips 1.67% from yesterday. For context, observe that yesterday was noteworthy in the sense that USDZAR bested all 40 of the assets in the Forex class. Below is a price chart of USDZAR.
USDZAR Technical Analysis
Notably, the current price of USDZAR is sitting close to its 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. 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 2 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.
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