NZD/JPY Down 0 Pips Over Past Hour, Makes Big Move Relative to Past Month; Nears 20 Day Moving Average
Relative to other instruments in the forex asset class, nzdjpy ranked 10th the previous day in terms of percentage price change.
Forex News
(Last Updated December 2, 2022 0:25 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 |
|---|---|---|---|---|---|---|
| Australia Retail Sales MoM Final | Oct 2022 | Australian Dollar | 2022-12-02 | 00:30 GMT | ||
| Canada Unemployment Rate | Nov 2022 | Canadian Dollar | 2022-12-02 | 13:30 GMT | 5.3% | |
| Euro Area ECB President Lagarde Speech | NA | Euro | 2022-12-02 | 02:40 GMT | ||
| United States Unemployment Rate | Nov 2022 | US Dollar | 2022-12-02 | 13:30 GMT | 3.7% |
FX Market Hourly Update
In the preceding hour, AUDCHF has has made the biggest move in the forex asset class, increasing 13 pips (0.2%). Intraday trend traders may wish to note that GBPAUD has the strongest trend on the hourly timeframe over the last 20 price bars. Finally, EURNOK‘s 20 hour moving average has just been breached.Price Action on the Daily Chart
The pairs that made the biggest moves, on a percentage basis, over the past day were NZDCAD, AUDCAD, and NZDCHF. The chart below illustrates. Note that AUDCHF, ZARJPY, NZDJPY, GBPCHF and EURAUD 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. Of note is that ZAR was the outperformer for the day, changing by 0.87%. On the flip side, CAD fared the worst, changing by -0.57%.
As for who is on a hot streak, GBPCAD, NZDJPY and USDCHF have now rallied 8 out of the past ten trading days.
Forex Trend News
Over the past two weeks, the strongest trend has been on AUDNZD. 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 EURNZD. 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 USDCHF, AUDUSD, USDSEK, EURJPY, EURNOK and GBPNZD. 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, ZARJPY may be of particular interest. It crossed its 20, 50, 100 and 200 day moving averages. Below is a list of currency pairs that crossed key moving average levels over the past day.| Currency Pair | Moving Average Period Crossed |
|---|---|
| AUDCAD | 200 |
| AUDJPY | 200 |
| CADJPY | 200 |
| EURNZD | 100 |
| USDCAD | 50 |
| EURSEK | 50 |
| EURCHF | 20 |
| EURNOK | 20 |
| EURAUD | 20 |
From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that USDTRY 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 ZARJPY, AUDJPY, CADJPY, USDHKD and GBPNZD.
News from the BIS
The Bank of International Settlements helps central banks coordinate their policies. As such, it can be an important institution for forex traders to monitor. Here is the latest from them:
| Link | Publication Date | Summary |
|---|
Forex Market Insights from TradingView
Regarding the forex pairs getting the most technical talk on TradingView, check out EURNZD. Here’s one comment we thought was especially interesting:EURNZD nice pivot point and rejection at supply zone. Looking for continuation of bear momentum to the highlighted demand zone. Let’s see how this works out!
–EURNZD H4 Shorts
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 5 Pips in Last Hour, 2 Day Down Streak Snapped; in an Uptrend Over Past 30 Days
Volatility for nzdusd has been contracting over the past two weeks relative to volatility over the past month.
NZD/CHF Down 1 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; 2 Day Down Streak Snapped
This move is a reversal from the hour prior, which saw price move up.
NZD/CAD Down 3 Pips Over Past Hour, Tops All Forex; in an Uptrend Over Past 14 Days
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
GBP/NZD Up 9 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; 3 Day Up Streak Snapped
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/USD Down 8 Pips Over Past Hour, Moves Down For the 3rd Consecutive Day; in an Uptrend Over Past 30 Days
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/JPY Up 2 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; Nears 50 Day Moving Average
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpjpy.
GBP/CHF Down 1 Pips in Last Hour, Makes Big Move Relative to Past Month; in an Uptrend Over Past 14 Days
Compared to its peers in the forex, gbpchf gave its buyers a return that ranked 14th in terms of percentage change since yesterday.
GBP/AUD Up 3 Pips in Last Hour; in an Uptrend Over Past 14 Days
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/CAD Down 3 Pips Over Past Hour; in an Uptrend Over Past 14 Days
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpcad.