USD/ZAR Down 52 Pips in Last 4 Hours, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
Forex News
Forex Market Summary
(Last Updated June 2, 2020)The Latest News on Price
The pairs that made the biggest moves, on a percentage basis, over the past day were USDNOK, TRYJPY, and USDZAR. The chart below illustrates. Note that NZDCAD made an especially large and surprising move 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 CNH was the big outperformer, moving by 0.09%. On the flip side, NOK fared the worst, moving by -0.15%.
Forex Trend News
Over the past two weeks, the strongest trend has been on USDCHF. Alternatively, on a 90 day basis, the strongest trend appears on USDTRY. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for ZARJPY and USDZAR. Trading against the 14 day trend in favor of the 90 day trend may be an opportunity some traders would favor on these pairs. Price action traders will also want to note that a base appears to be forming on USDTRY and EURGBP. Price bases often precede increases in volatility and a clear trend.Moving Averages in the Forex World
From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that GBPJPY has perhaps the strongest trend. See the chart below.
One other point on moving averages: instruments USDHKD, EURCHF, NZDCAD, NZDUSD and EURJPY are close to their 200 day moving average.
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.GBP/CAD Down 3 Pips in Last 4 Hours, in a Downtrend Over Past 30 Days; Price Base in Formation Over Past 90 Days
🔸 If price breaks to the upside, it has potential to reach the resistance zone..
USD/CHF Down 1 Pips On 4 Hour Chart, Moves Up For the 2nd Day In A Row; in a Downtrend Over Past 14 Days
The closest is the 100 day average, which is 66.7 pips away.
EUR/CAD Down 3 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Came Into Today Down For the 3rd Day In A Row
This imputes a buy/sell ratio of 1.25, which is bullish.
USD/MXN Up 20 Pips On 4 Hour Chart, in a Downtrend Over Past 30 Days; 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/AUD Up 7 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.
EUR/AUD Up 6 Pips Over Past 4 Hours, 3 Day Down Streak Broken; in a Downtrend Over Past 14 Days
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.
USD/CAD Up 7 Pips Over Past 4 Hours, 2 Day Down Streak Snapped; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
EUR/SEK Up 77 Pips On 4 Hour Chart; Pin Bar Pattern Appearing on Chart
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.
EUR/NZD Up 17 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; 2 Day Down Streak Snapped
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.