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Forex News

(Last Updated February 25, 2021 6:24 GMT)

Today’s Main Forex Events

Here’s a look at the main macroeconomic data coming out later today that may impact the forex market.

Metric Name Reference Period Currency Date Time Forecast Outcome
Euro Area Consumer Confidence Final Feb 2021 Euro 2021-02-25 10:00 GMT -14.8
Japan Retail Sales YoY Jan 2021 Japanese Yen 2021-02-25 23:50 GMT -2.6%
United States Durable Goods Orders MoM Jan 2021 US Dollar 2021-02-25 13:30 GMT 1.1%

FX Market Hourly Update

In the preceding hour, GBPUSD has been an especially big mover in the forex market, increasing 16 pips (0.11%). Traders interested in intraday trends may wish to observe NZDCHF, which has been in an uptrend over the past 50 price candles. Last but not least, intraday traders may wish to take note of the fact that EURGBP just breached its 20 hour moving average.

Price Action on the Daily Chart

The pairs that made the biggest moves, on a percentage basis, over the past day were NZDJPY, NZDCHF, and AUDJPY. The chart below illustrates. Note that NZDCAD, USDHKD and GBPNZD made especially large and surprising moves over the past day.


The chart below summarizes the price news by currency, showing which currency strengthened vs which weakened when equally averaged against other currencies. We see that NZD was the big outperformer, moving by 1.27%. Alternatively, JPY moving by -0.88%, making it the worst performer of the bunch.


And in terms of interesting streaks, NZDJPY, NZDCHF, AUDJPY, CADJPY, EURTRY, AUDCHF, GBPJPY, AUDUSD, GBPCHF, EURCHF and GBPUSD have now rallied 8, 8, 9, 8, 8, 8, 8, 8, 9, 9 and 8 out of the past ten trading days.


Forex Trend News

Over the past two weeks, the strongest trend has been on EURGBP. Alternatively, on a 90 day basis, the strongest trend appears on EURNOK. Price action traders will also want to note that a base appears to be forming on EURNOK. Price bases often precede increases in volatility and a clear trend.

Moving Averages in the Forex World

For those who pay attention to moving averages, GBPNZD may be of particular interest. It crossed its 20, 50 and 100 day moving averages. Outside of GBPNZD, GBPAUD was another pair that crossed key moving average levels, crossing its 50 day moving average. From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that USDZAR has perhaps the strongest trend. See the chart below.



Finally, instruments in the Forex asset class that are near their 200 day moving average are USDHKD and AUDNZD.


Looking for More Forex News?

For more forex news beyond what is offered on CFDTrading, check out Forex Factory, FX Empire, and ForexLive. For the latest stories on specific currency pairs, try the articles below.

NZD/USD Down 3 Pips On Hourly Chart, Moves Up For the 5th Consecutive Day; in an Uptrend Over Past 14 Days

Categories Forex News Tags NZDUSD
February 25, 2021

This is a reversal of the price action on the previous hour, in which price moved up.

NZD/JPY Up 2 Pips On Hourly Chart, Outperforms All Forex; Came Into Today Up For the 5th Straight Day

Categories Forex News Tags NZDJPY
February 25, 2021

If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.

NZD/CHF Down 0 Pips On Hourly Chart; Moves Up For the 6th Straight Day

Categories Forex News Tags NZDCHF
February 25, 2021

Relative to other instruments in the forex asset class, nzdchf ranked 2nd the day prior in terms of percentage price change.

NZD/CAD Down 1 Pips in Last Hour; Makes Big Move Relative to Past Two Months

Categories Forex News Tags NZDCAD
February 25, 2021

This move is a reversal from the hour prior, which saw price move up.

GBP/USD Up 1 Pips in Last Hour; Moves Up For the 5th Straight Day

Categories Forex News Tags GBPUSD
February 25, 2021

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/NZD Up 11 Pips in Last Hour, Makes Big Move Relative to Past Month; 2 Day Up Streak Ended

Categories Forex News Tags GBPNZD
February 25, 2021

This is a reversal of the price action on the previous hour, in which price moved down.

GBP/JPY Up 8 Pips On Hourly Chart, Moves Up For the 3rd Consecutive Day; in an Uptrend Over Past 14 Days

Categories Forex News Tags GBPJPY
February 25, 2021

If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.

GBP/CHF Up 3 Pips Over Past Hour, Came Into Today Up For the 9th Day In A Row; in an Uptrend Over Past 14 Days

Categories Forex News Tags GBPCHF
February 25, 2021

It’s been a feast for bulls operating on an hourly timeframe, as gbpchf has now gone up 4 of the past 5 hours.

GBP/CAD Up 2 Pips in Last Hour, 2 Day Up Streak Ended; Bearish Engulfing Pattern Present

Categories Forex News Tags GBPCAD
February 25, 2021

It’s been a feast for bulls operating on an hourly timeframe, as gbpcad has now gone up 4 of the past 5 hours.

GBP/AUD Down 19 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 50 Day Average

Categories Forex News Tags GBPAUD
February 25, 2021

This is a reversal of the price action on the previous hour, in which price moved up.

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