EUR/NZD Up 38 Pips in Last 4 Hours, Price Base in Formation Over Past 30 Days; Pin Bar Pattern Appearing on Chart
Price is finding support, eur picking up momentumstill expecting the price to dip below before long!…
(Last Updated March 5, 2021 23:24 GMT)
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, changing by 0.68%. On the flip side, ZAR fared the worst, changing by -0.99%.
And in terms of interesting streaks, USDCHF, GBPCHF, USDTRY, EURCHF and EURTRY have experienced upwards move in 8, 8, 9, 8 and 8 of the prior ten trading days.
Currency Pair | Moving Average Period Crossed |
---|---|
USDTRY | 200 |
GBPNZD | 200 |
USDZAR | 100 |
USDSEK | 100 |
CHFJPY | 100 |
USDNOK | 50 |
AUDCAD | 50 |
AUDUSD | 50 |
NZDUSD | 50 |
EURNOK | 20 |
EURNZD | 20 |
USDCAD | 20 |
GBPCAD | 20 |
GBPUSD | 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 in the Forex asset class that are near their 200 day moving average are USDMXN, USDTRY, GBPNZD, GBPAUD, AUDNZD and USDHKD.
Price is finding support, eur picking up momentumstill expecting the price to dip below before long!…
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.
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.
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.
I also like that the stochastic is rolling over on both time-frames.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
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.