USDZAR Down 6 Pips Over Past Hour; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated April 27, 2021 2:16 GMT)

At the moment, USDZAR’s rate is down -6 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 14.2722, up 37 pips 0.03% from yesterday. Out of the 39 instruments in the Forex asset class, USDZAR ended up ranking 23rd for the day in terms of price change. Let’s take a look at price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

Coming into today USDZAR is now close to its 20 day averages, located at 14.4601 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on USDZAR, with 4 buy signals on our radar and 0 sell signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

HELLO EVERYONEHOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE’S A LOOK AT THE DOLLAR / ZAR.* follow your entry rules on entries* significant moves with the bears change the plan.lets see how it goes.many stars must align with the plan before executing the trade, kindly follow your rules.HAPPY TRADING EVERYONE & LET YOUR WINS RUN…_________________________________________________________________________________________________________________________ENTRY & SL – FOLLOW YOUR RULESRISK-MANAGEMENTPERIOD – SWING TRADE__________________________________________________________________________________________________________________________If this idea helps with your trading plan kindly leave a like definitely appreciate it.