"Forex Frank" is a forex trader and commentator focused primarily on technical analysis rooted in price action. Follow him on social media:
NZD/USD Down 0 Pips in Last Hour, 5 Day Up Streak Broken; Crosses 50 Day Moving Average
This imputes a buy/sell ratio of 0.96, which is neutral.
Forex Frank
NZD/JPY Up 6 Pips in Last Hour, 5 Day Up Streak Ended; Eyes 20, 50 and 100 Day Averages
As for the rationale, technical traders seem to be citing the appearance of channel and triple top technical patterns.
NZD/CHF Down 1 Pips On Hourly Chart, Entered Today Up For the 3rd Straight Day; is Inching Close to 20 and 100 Day Averages
Relative to other instruments in the forex asset class, nzdchf ranked 13th the previous day in terms of percentage price change.
NZD/CAD Down 0 Pips On Hourly Chart, Price Base in Formation Over Past 90 Days; Sentiment Strongly Favors Sellers
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
GBP/USD Down 1 Pips On Hourly Chart, Breaks Above 20 Day Average; in a Downtrend Over Past 30 Days
This is a reversal of the price action on the previous hour, in which price moved up.
GBP/NZD Down 2 Pips On Hourly Chart, Breaks Above 20 Day Average; Sentiment Strongly Favors Buyers
This is a reversal of the price action on the previous hour, in which price moved up.
GBP/JPY Up 10 Pips Over Past Hour, Crosses 20 and 100 Day Moving Averages; Pin Bar Pattern Appearing on Chart
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.
GBP/CHF Down 4 Pips On Hourly Chart; Breaks Above 50 and 100 Day Averages
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.
GBP/CAD Down 2 Pips On Hourly Chart, 2 Day Down Streak Broken; Breaks Above 100 and 200 Day Averages
As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern.
GBP/AUD Down 9 Pips On Hourly Chart, Outperforms All Forex; is Inching Close to 50 and 100 Day Averages
Gbpaud managed to reject off an important resistance level @1.8125 price level….