USD/ZAR 4 Hour Price Update
Updated July 23, 2020 09:26 AM GMT (05:26 AM EST)
USD/ZAR is down 284 pips (0.17%) since the last 4 hour candle (opening the current 4 hour candle near 16.4438), marking the 3rd candle in a row a decrease has occurred. Out of the 37 instruments in the Forex asset class, USD/ZAR ended up ranking 29th for the four-hour candle in terms of price change.
USD/ZAR End of Day Recap
Updated 00:30 GMT (04:30 EST)
USD/ZAR is up 111 pips (0.07%) since the previous day (opening today near 16.47687), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, USD/ZAR gave its buyers a return that ranked 10th in terms of percentage change since the previous day. Here is a price chart of USD/ZAR.
USD/ZAR Technical Analysis
Notably, USD/ZAR is now close to its 20 and 200 day moving averages, which may act as price barrier for the asset. 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 200 day average, which is 805 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days USD/ZAR’s price has gone down 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for USDZAR; just 2 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1.5, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Gone long USDZAR here for a little bounce. Stop 16.25, Target 16.80. Felt a bit oversold and has been struggling to break 16.40. Lots of buyers down here. Good luck!