USDZAR Down 9 Pips Over Past Hour, Fares the Worst Out of Forex; in a Downtrend Over Past 14 Days – CFD Trading

Hourly Update

(Last Updated April 16, 2021 20:16 GMT)

Currently, USDZAR’s rate is down -69 pips (-0.05%) from the hour prior. USDZAR has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDZAR End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDZAR is down 2316 pips (1.61%) since the day prior (opening today near 14.1556), marking the 4th straight day a decline has happened. On a relative basis, USDZAR was the worst performer out of all 39 of the assets in the Forex asset class. Here is a 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 down. Or to simplify this another way, note that out of the past 14 days USDZAR’s price has gone down 10 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDZAR; just 2 sell signals and 2 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com that we thought you might enjoy.

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