USDZAR Up 108 Pips in Last Hour, Underperforms All Forex; Moves Down For the 4th Straight Day – CFD Trading

Hourly Update

(Last Updated April 16, 2021 5:16 GMT)

At the time of this writing, USDZAR’s rate is up 15 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 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 yesterday (opening today near 14.1556), marking the 4th straight day a decline has happened. Those trading within the Forex asset class should know that USDZAR was the worst performer in the class. The price chart of USDZAR below illustrates.

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. For additional context, note that price has gone down 17 out of the past 30 days.

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.

Leave a Reply

Your email address will not be published. Required fields are marked *