(Last Updated December 20, 2021 1:37 GMT)
At the moment, USDZAR’s rate is up 54 pips (0.03%) from the hour prior. The hourly chart shows that USDZAR has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDZAR. Given that we see an uptrend on the 10 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 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)
USDZAR is down 603 pips (0.38%) since the previous day (opening today near 15.874), marking the 3rd day in a row a decrease has occurred. Compared to its peers in the Forex, USDZAR gave its buyers a return that ranked 31st in terms of percentage change since the previous day. Let’s take a look at price chart of USDZAR.
USDZAR Technical Analysis
Notably, USDZAR is now close to its 20 day averages, located at 15.9542 respectively, and thus may be at a key juncture along those timeframes. 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. 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. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days USDZAR’s price has gone down 8 them.
The View From Around the Web
Not much commentary on USDZAR that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.