NZD/USD Up 1 Pips in Last Hour, Came Into Today Up For the 2nd Straight Day; Nears 20 Day Moving Average
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
Forex News
(Last Updated January 27, 2021 7:24 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 |
|---|---|---|---|---|---|---|
| Japan Retail Sales YoY | Dec 2020 | Japanese Yen | 2021-01-27 | 23:50 GMT | -0.4% | |
| United States Durable Goods Orders MoM | Dec 2020 | US Dollar | 2021-01-27 | 13:30 GMT | 0.9% |
FX Market Hourly Update
In the preceding hour, USDMXN has has made the biggest move in the forex asset class, decreasing -249 pips (-0.12%). The strongest trend on the hourly timeframe can be seen on CHFJPY — it’s clearly been in an uptrend over the past 20 candles. Finally, intraday traders may wish to take note of the fact that USDJPY just breached its 20 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 USDZAR, ZARJPY, and USDTRY. 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. Of note is that ZAR was the outperformer for the day, changing by 1.07%. Alternatively, USD changing by -0.32%, making it the worst performer of the bunch.
Forex Trend News
Over the past two weeks, the strongest trend has been on GBPAUD. Alternatively, on a 90 day basis, the strongest trend appears on NZDUSD. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for GBPAUD, GBPNZD and EURJPY. 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 CADCHF, EURUSD, AUDNZD, USDCHF and USDCAD. 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, USDJPY may be of particular interest. It crossed its 20 and 50 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 |
|---|---|
| EURCAD | 200 |
| EURUSD | 50 |
| AUDUSD | 20 |
| EURNOK | 20 |
| EURSEK | 20 |
| USDCAD | 20 |
From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that USDMXN has perhaps the strongest trend. See the chart below.
One other point on moving averages: instruments EURCHF, USDHKD, AUDNZD and EURCAD 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.NZD/JPY Down 0 Pips Over Past Hour, Came Into Today Up For the 2nd Straight Day; in an Uptrend Over Past 90 Days
Compared to its peers in the forex, nzdjpy gave its buyers a return that ranked 9th in terms of percentage change since the previous day.
NZD/CHF Up 1 Pips Over Past Hour, Entered Today Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
Price action traders may also wish to note that we see a pin bar candlestick pattern on nzdchf.
NZD/CAD Up 1 Pips in Last Hour, Makes Big Move Relative to Past Month; Eyes 20 Day Average
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
GBP/USD Up 5 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
This move is a reversal from the hour prior, which saw price move down.
GBP/NZD Up 7 Pips Over Past Hour, Came Into Today Down For the 2nd Consecutive Day; Nears 20 and 50 Day Moving Averages
Relative to other instruments in the forex asset class, gbpnzd ranked 27th the previous day in terms of percentage price change.
GBP/JPY Up 2 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
GBP/CHF Up 5 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 9 out of the past 14 days.
GBP/CAD Up 5 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the forex asset class, gbpcad ranked 20th the previous day in terms of percentage price change.
GBP/AUD Down 7 Pips On Hourly Chart, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
It’s been a feast for bears operating on an hourly timeframe, as gbpaud has now gone down 4 of the past 5 hours.