Forex News

(Last Updated January 22, 2021 22:24 GMT)

FX Market Hourly Update

Over the past hour, AUDCHF has been an especially big mover in the forex market, declining -6 pips (-0.09%). Intraday trend traders may wish to note that USDNOK has the strongest trend on the hourly timeframe over the last 20 price bars. Finally, intraday traders may wish to take note of the fact that EURCHF 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 USDSEK, USDMXN, and USDNOK. 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. Of note is that SEK was the outperformer for the day, changing by 0.59%. Alternatively, MXN changing by -0.76%, making it the worst performer of the bunch.

And in terms of interesting streaks, GBPNZD has experienced upwards move in 8 of the prior ten trading days.

Forex Trend News

Over the past two weeks, the strongest trend has been on GBPCHF. 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 NZDCAD, GBPNZD, USDSEK, USDCHF, EURUSD, EURJPY 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 USDZAR and USDJPY. 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, GBPCAD 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	200
NZDCAD	50
EURUSD	50
EURJPY	50
GBPAUD	20
CHFJPY	20
EURSEK	20
USDCHF	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, EURCHF and AUDNZD are close to their 200 day moving average.

Forex Market Insights from TradingView

On TradingView, a consensus may be building on NZDCHF. Our TradingView Sentiment Indicator notches a buy/sell ratio of 5, suggesting traders are very bullish on the asset. And regarding the forex pairs getting the most technical talk on TradingView, see EURAUD. Here’s one comment we thought was especially interesting:

Up trend momentum so strong, good to buy.
–#EURAUD LONG – Uptrend

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.