USD/ZAR Up 665 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart

USD/ZAR 4 Hour Price Update

Updated June 26, 2020 01:08 PM GMT (09:08 AM EST)

USD/ZAR is up 665 pips (0.39%) since the last 4 hour candle (opening the current 4 hour candle near 17.2753), marking the 2nd candle in a row an increase has occurred. Relative to other instruments in the Forex asset class, USD/ZAR ranked 2nd the last 4 hour candle in terms of percentage price change.

USD/ZAR End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USD/ZAR continues; to start today, it came in at a price of 17.15802, up 292 pips (0.17%) since the day prior. Compared to its peers in the Forex, USD/ZAR gave its buyers a return that ranked 3rd in terms of percentage change since the day prior. Let’s take a look at price chart of USD/ZAR.

USD/ZAR Technical Analysis

Notably, USD/ZAR is now close to its 20 day averages, located at 17.0701 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 878.7 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Volatility for USD/ZAR has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Or to simplify this another way, note that out of the past 30 days USD/ZAR’s price has gone down 16 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on USDZAR, with 3 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 0.33, which is bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.