AUD/NZD Up 17 Pips, in an Uptrend Over Past 30 Days; Doji Pattern Appearing on Chart
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.
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Forex Market Summary
(Last Updated February, 28, 2020)Strongest 2 Week Trend: USD/HKD
Close to 20 Day Moving Average: EUR/CHF, AUD/NZD and USD/CNH
Unusually Large Price Move in Past Day: EUR/CHF
See the stories below to drill down into specific currency pairs. Each story features a recap of price movement, a summary of the technicals going on in that given currency pair, and when appropriate, a link to an analysis from a trader on TradingView. For more market-related news, be sure to visit other forex market news sites like Forex Factory and Forex Live.
CHF/JPY Up 20 Pips; is Inching Close to 20 Day Average
Relative to other instruments in the forex asset class, chf/jpy ranked 19th yesterday in terms of percentage price change.
NZD/USD 3 Day Down Streak Snapped, in a Downtrend Over Past 30 Days; Social Sentiment Biased Towards Buying
Out of the 40 instruments in the forex asset class, nzd/usd ended up ranking 18th for the day in terms of day-over-day price change.
EUR/SEK Up 289 Pips, Crosses 100 Day Moving Average; in an Uptrend Over Past 14 Days
Relative to other instruments in the forex asset class, eur/sek ranked 17th yesterday in terms of percentage price change.
EUR/JPY Up 38 Pips; Breaks Above 200 Day Average
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 22.94% from the day prior, and up 207.85% from the same day the week before.
GBP/CAD Up 65 Pips; Breaks Above 20 Day Average
This imputes a buy/sell ratio of 0.33, which is bearish.
AUD/USD Up 25 Pips; in a Downtrend Over Past 30 Days
This imputes a buy/sell ratio of 1.57, which is bullish.
USD/CAD Moves Up For the 2nd Day In A Row
Out of the 40 instruments in the forex asset class, usd/cad ended up ranking 13th for the day in terms of day-over-day price change.
NZD/CAD Up 59 Pips; in a Downtrend Over Past 30 Days
This imputes a buy/sell ratio of 0.63, which is bearish.
EUR/AUD Up 119 Pips, in an Uptrend Over Past 14 Days; Social Sentiment Biased Towards Selling
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.