USD/ZAR Up 57 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated July 19, 2022 1:36 GMT)

At the moment, USDZAR’s rate is up 57 pips (0.03%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDZAR has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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)

The back and forth price flow continues for USDZAR, which started today off at 17.117, up 536 pips 0.31% from the previous day. Relative to other instruments in the Forex asset class, USDZAR ranked 15th the previous day in terms of percentage price change. Let’s take a look at price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days USDZAR’s price has gone up 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.