USD/ZAR Down 605 Pips On 4 Hour Chart, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

USD/ZAR 4 Hour Price Update

Updated May 20, 2020 05:05 PM GMT (01:05 PM EST)

USD/ZAR is down 605 pips (0.34%) since the previous 4 hours (opening the current 4 hour candle near 17.9354), marking the 5th candle in a row it has gone down. Relative to other instruments in the Forex asset class, USD/ZAR ranked 33rd the previous 4 hours in terms of percentage price change.

USD/ZAR End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/ZAR entered today at 18.33246, down 89 pips (0.05%) from the previous day. Out of the 40 instruments in the Forex asset class, USD/ZAR ended up ranking 38th for the day in terms of price change. Below is a price chart of USD/ZAR.

USD/ZAR Technical Analysis

Notably, the current price of USD/ZAR 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 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 10 days USD/ZAR’s price has gone up 6 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.