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.
This imputes a buy/sell ratio of 0.96, which is neutral.
As for the rationale, technical traders seem to be citing the appearance of channel and triple top technical patterns.
Relative to other instruments in the forex asset class, nzdchf ranked 13th the previous day in terms of percentage price change.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
This is a reversal of the price action on the previous hour, in which price moved up.
This is a reversal of the price action on the previous hour, in which price moved up.
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.
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.
As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern.
Gbpaud managed to reject off an important resistance level @1.8125 price level….