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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.

CADJPY Up 1 Pips On Hourly Chart; 2 Day Up Streak Broken

Categories Forex News Tags CADJPY
January 22, 2021January 22, 2021

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.

CHFJPY Up 9 Pips in Last Hour, Breaks Above 20 Day Average; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags CHFJPY
January 22, 2021January 22, 2021

This imputes a buy/sell ratio of 1.33, which is bullish.

CADCHF Down 4 Pips in Last Hour; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags CADCHF
January 22, 2021January 22, 2021

Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.

USDZAR Up 121 Pips in Last Hour, 3 Day Down Streak Ended; in a Downtrend Over Past 90 Days

Categories Forex News Tags USDZAR
January 22, 2021January 22, 2021

And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.

USDTRY Up 7 Pips in Last Hour, Came Into Today Down For the 3rd Consecutive Day; Crosses 200 Day Moving Average

Categories Forex News Tags USDTRY
January 22, 2021January 22, 2021

The closest is the 20 day average, which is 512.7 pips away.

USDSEK Up 14 Pips in Last Hour, Fares the Worst Out of Forex; But Still in an Uptrend Over Past 14 Days

Categories Forex News Tags USDSEK
January 22, 2021January 22, 2021

It’s been a feast for bulls operating on an hourly timeframe, as usdsek has now gone up 4 of the past 5 hours.

USDNOK Up 7 Pips in Last Hour, Moves Down For the 3rd Consecutive Day; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags USDNOK
January 22, 2021January 22, 2021

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.

USDJPY Down 0 Pips Over Past Hour, Price Base in Formation Over Past 14 Days; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags USDJPY
January 22, 2021January 22, 2021

Or to simplify this another way, note that out of the past 10 days usdjpy’s price has gone up 5 them.

USDMXN Down 110 Pips Over Past Hour, Tops All Forex; 3 Day Down Streak Broken

Categories Forex News Tags USDMXN
January 22, 2021January 22, 2021

Or to simplify this another way, note that out of the past 14 days usdmxn’s price has gone down 8 them.

AUDUSD Down 2 Pips Over Past Hour, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags AUDUSD
January 22, 2021January 22, 2021

Volatility for audusd has been contracting over the past two weeks relative to volatility over the past month.

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