NZDUSD Down 3 Pips Over Past Hour, Entered Today Up For the 3rd Consecutive Day; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
(Last Updated January 22, 2021 13:24 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 |
---|---|---|---|---|---|---|
Canada Retail Sales MoM | Nov 2020 | Canadian Dollar | 2021-01-22 | 13:30 GMT | 0.1% | |
United States Markit Services PMI Flash | Jan 2021 | US Dollar | 2021-01-22 | 14:45 GMT | 53.6 |
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 SEK was the big outperformer, changing by 0.59%. On the flip side, MXN fared the worst, changing by -0.76%.
And in terms of interesting streaks, GBPNZD has now rallied 8 out of the past ten trading days.
Currency Pair | Moving Average Period Crossed |
---|---|
USDTRY | 200 |
NZDCAD | 50 |
EURUSD | 50 |
EURJPY | 50 |
GBPAUD | 20 |
CHFJPY | 20 |
EURSEK | 20 |
USDCHF | 20 |
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.
Lastly, instruments in the Forex asset class that are near their 200 day moving average are USDHKD, EURCHF and AUDNZD.
Up trend momentum so strong, good to buy.
–#EURAUD LONG – Uptrend
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
Relative to other instruments in the forex asset class, nzdjpy ranked 14th the previous day in terms of percentage price change.
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
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, gbpcad ranked 4th yesterday in terms of percentage price change.
For additional context, note that price has gone up 7 out of the past 10 days.