Forex News

(Last Updated February 26, 2021 22:24 GMT)

FX Market Hourly Update

In the preceding hour, USDNOK stands out as the biggest mover in the forex asset class on a percentage basis, jumping 280 pips (0.32%). Traders interested in intraday trends may wish to observe USDTRY, which has been in an uptrend over the past 50 price candles. Last but not least, CHFJPY‘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 USDMXN. The chart below illustrates. Note that USDZAR, USDNOK and NZDCAD 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 USD was the outperformer for the day, moving by 1.16%. Alternatively, ZAR moving by -3.67%, making it the worst performer of the bunch.


As for who is on a hot streak, EURTRY, EURCHF, AUDJPY and GBPCHF have now rallied 8, 8, 8 and 9 out of the past ten trading days.


Forex Trend News

Over the past two weeks, the strongest trend has been on GBPJPY. Alternatively, on a 90 day basis, the strongest trend appears on AUDCAD. Price action traders will also want to note that a base appears to be forming on USDZAR 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, USDZAR 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
USDTRY 50
GBPAUD 50
USDNOK 20
EURNOK 20
EURSEK 20
AUDNZD 20
ZARJPY 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 USDHKD and AUDNZD 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.

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