NZD/USD Down 3 Pips On Hourly Chart, Moves Up For the 5th Consecutive Day; in an Uptrend Over Past 14 Days
This is a reversal of the price action on the previous hour, in which price moved up.
(Last Updated February 25, 2021 6:24 GMT)
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% |
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.
Finally, instruments in the Forex asset class that are near their 200 day moving average are USDHKD and AUDNZD.
This is a reversal of the price action on the previous hour, in which price moved up.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
Relative to other instruments in the forex asset class, nzdchf ranked 2nd the day prior in terms of percentage price change.
This move is a reversal from the hour prior, which saw price move up.
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.
This is a reversal of the price action on the previous hour, in which price moved down.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
It’s been a feast for bulls operating on an hourly timeframe, as gbpchf has now gone up 4 of the past 5 hours.
It’s been a feast for bulls operating on an hourly timeframe, as gbpcad has now gone up 4 of the past 5 hours.
This is a reversal of the price action on the previous hour, in which price moved up.