NZDUSD Up 1 Pips Over Past Hour, 4 Day Down Streak Ended; in a Downtrend Over Past 14 Days
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
Forex News
(Last Updated June 22, 2021 10:24 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 |
|---|---|---|---|---|---|---|
| Australia Markit Services PMI Flash | Jun 2021 | Australian Dollar | 2021-06-22 | 23:00 GMT | ||
| Euro Area Consumer Confidence Flash | Jun 2021 | Euro | 2021-06-22 | 14:00 GMT | -3 | |
| United Kingdom CBI Industrial Trends Orders | Jun 2021 | British Pound | 2021-06-22 | 10:00 GMT | 18 | 19 |
| Japan BoJ Monetary Policy Meeting Minutes | NA | Japanese Yen | 2021-06-22 | 23:50 GMT | ||
| United States Existing Home Sales MoM | May 2021 | US Dollar | 2021-06-22 | 14:00 GMT |
FX Market Hourly Update
Over the past hour, GBPNZD stands out as the biggest mover in the forex asset class on a percentage basis, falling -30 pips (-0.15%). Intraday trend traders may wish to note that USDCHF has the strongest trend on the hourly timeframe over the last 100 price bars. Finally, it’s worth noting that EURGBP has crossed its 100 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 ZARJPY, USDNOK, and USDZAR. The chart below illustrates. Note that GBPJPY, GBPCHF, NZDCAD and EURCAD 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, moving by 1.12%. Alternatively, JPY moving by -0.67%, making it the worst performer of the bunch.
And in terms of interesting streaks, GBPNZD has now rallied 9 out of the past ten trading days.
Forex Trend News
Over the past two weeks, the strongest trend has been on EURUSD. Alternatively, on a 90 day basis, the strongest trend appears on CHFJPY. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for EURUSD, GBPUSD, USDCAD, USDZAR, ZARJPY, GBPCAD, EURJPY, CADJPY, GBPJPY and CHFJPY. 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 AUDCAD. 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, USDHKD may be of particular interest. It crossed its 50 and 100 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 |
|---|---|
| EURNZD | 200 |
| EURSEK | 200 |
| USDCAD | 100 |
| CADCHF | 20 |
From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that ZARJPY has perhaps the strongest trend. See the chart below.
One other point on moving averages: instruments GBPCAD, USDHKD, EURAUD, EURNZD, EURSEK, USDMXN and USDSEK are close to their 200 day moving average.
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 |
|---|---|---|
| Ignazio Visco: Closing keynote address – “2021 IIF G20 Conference – The G20 Agenda Under the Italian Presidency” | 2021-06-20 | Closing keynote address by Mr Ignazio Visco, Governor of the Bank of Italy, to the “2021 IIF G20 Conference – The G20 Agenda Under the Italian Presidency”, organized by the Institute of International Finance, live-streamed event, 17 June 2021. |
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.NZDJPY Up 1 Pips On Hourly Chart, 4 Day Down Streak Snapped; 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.
NZDCHF Up 3 Pips On Hourly Chart, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
Compared to its peers in the forex, nzdchf gave its buyers a return that ranked 14th in terms of percentage change since the previous day.
NZDCAD Up 2 Pips Over Past Hour, Makes Big Move Relative to Past Month; Pin Bar Pattern Appearing on Chart
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
GBPUSD Down 17 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; Nears 100 Day Moving Average
Compared to its peers in the forex, gbpusd gave its buyers a return that ranked 6th in terms of percentage change since yesterday.
GBPNZD Down 30 Pips Over Past Hour, Came Into Today Up For the 5th Day In A Row; in an Uptrend Over Past 14 Days
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
GBPJPY Down 20 Pips On Hourly Chart, Entered Today Up For the 2nd Straight Day; Eyes 50 Day Average
It’s been a feast for bears operating on an hourly timeframe, as gbpjpy has now gone down 4 of the past 5 hours.
GBPCHF Down 13 Pips Over Past Hour; Makes Big Move Relative to Past Month
Compared to its peers in the forex, gbpchf gave its buyers a return that ranked 10th in terms of percentage change since the previous day.
GBPCAD Down 22 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Eyes 50 and 200 Day Averages
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down.
GBPAUD Down 17 Pips in Last Hour, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
This move is a reversal from the hour prior, which saw price move up.