NZDUSD Down 4 Pips Over Past Hour, 4 Day Up Streak Ended; Crosses 50 and 100 Day Moving Averages
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Forex News
(Last Updated April 19, 2021 20:24 GMT)
FX Market Hourly Update
In the preceding hour, USDZAR has been an especially big mover in the forex market, falling -2 pips (-0.16%). The strongest trend on the hourly timeframe can be seen on GBPUSD — it’s clearly been in an uptrend over the past 20 candles. Finally, USDZAR‘s 50 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 USDZAR, ZARJPY, and GBPNZD. The chart below illustrates. None of the moves in the past day were especially noteworthy in terms of their size relative to their volatility over the past 30 days.
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 CAD was the big outperformer, moving by 0.31%. On the flip side, ZAR fared the worst, moving by -0.98%.
Forex Trend News
Over the past two weeks, the strongest trend has been on USDSEK. Alternatively, on a 90 day basis, the strongest trend appears on CADJPY. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for USDSEK, USDCHF, GBPCHF, CADCHF, USDJPY, EURCAD, EURUSD, GBPJPY, EURGBP, GBPNZD, CADJPY, GBPAUD, AUDNZD, AUDCHF, USDTRY and EURCHF. Trading against the 14 day trend in favor of the 90 day trend may be an opportunity some traders would favor on these pairs.Moving Averages in the Forex World
For those who pay attention to moving averages, NZDUSD 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 |
|---|---|
| GBPNZD | 200 |
| GBPCAD | 200 |
| NZDCAD | 200 |
| EURNZD | 50 |
| GBPJPY | 50 |
| NZDCHF | 50 |
| EURAUD | 20 |
| TRYJPY | 20 |
| AUDCHF | 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.
Lastly, instruments GBPNZD, GBPCAD, USDHKD, EURUSD and NZDCAD are close to their 200 day moving average.
Forex Market Insights from TradingView
As for which forex pairs are getting the most insightful technical conversations, check out NZDCAD. Here’s a remark from one currency trader that we thought was especially worth sharing:The price has hit supply zone last week and looks like is is going to come down to the demand zone on 4H chart.sl is set tight, below demand zone.ENTRY: 0.88890TARGET: 0.90050SL: 0.88600Trade safe! Follow for more!
–NZDCAD setup for the coming week
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 2 Pips Over Past Hour, 3 Day Up Streak Broken; in an Uptrend Over Past 90 Days
Relative to other instruments in the forex asset class, nzdjpy ranked 33rd yesterday in terms of percentage price change.
NZDCHF Up 3 Pips On Hourly Chart, 3 Day Up Streak Snapped; Breaks Below 50 Day Average
The closest is the 50 day average, which is 9.1 pips away.
NZDCAD Down 3 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Bearish Engulfing Pattern Present
Interestingly, a trend in the other direction exists on the 90 and 30 day timeframes, where price is headed down.
GBPUSD Down 3 Pips Over Past Hour, 3 Day Up Streak Ended; Nears 20, 50 and 100 Day Moving Averages
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.
GBPNZD Down 0 Pips in Last Hour, 3 Day Down Streak Snapped; Breaks Above 200 Day Average
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.
GBPJPY Up 6 Pips in Last Hour, Crosses 50 Day Moving Average; in a Downtrend Over Past 14 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
GBPCHF Up 8 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; Eyes 50 Day Average
Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
GBPCAD Down 4 Pips Over Past Hour, Moves Up For the 3rd Consecutive Day; Crosses 200 Day Moving Average
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpcad.
GBPAUD Up 5 Pips Over Past Hour, Price Base in Formation Over Past 30 Days; Nears 50, 100 and 200 Day Moving Averages
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.