Forex News

(Last Updated October 21, 2020 23:23 GMT)

FX Market Hourly Update

In the preceding hour, AUDCHF has has made the biggest move in the forex asset class, declining -10 pips (-0.16%). Intraday trend traders may wish to note that AUDCAD has the strongest trend on the hourly timeframe over the last 20 price bars. Last but not least, NZDCHF‘s 100 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 USDSEK, NZDCAD, and EURAUD. 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 0.69%. On the flip side, NZD fared the worst, changing by -0.53%.

And in terms of interesting streaks, GBPUSD 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 EURCHF. Alternatively, on a 90 day basis, the strongest trend appears on TRYJPY. Price action traders will also want to note that a base appears to be forming on EURGBP, GBPJPY and USDNOK. 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, NZDUSD may be of particular interest. It crossed its 20 and 100 day moving averages. Outside of NZDUSD, other pairs that crossed notable moving average levels include EURGBP, EURNOK, CADJPY, GBPNZD, EURUSD, EURSEK, USDSEK, EURAUD, ZARJPY, AUDCHF and NZDCAD; they crossed their 20, 20, 50, 50, 50, 50, 50, 200, 200, 200 and 200 day moving averages, respectively. From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that EURTRY has perhaps the strongest trend. See the chart below.

Lastly, instruments ZARJPY, EURCHF, GBPJPY, USDHKD, AUDCHF and NZDCAD are close to their 200 day moving average.

Forex Market Insights from TradingView

On TradingView, a consensus may be building on EURGBP. The CFDTrading TradingView Sentiment Indicator reports a buy/sell ratio (a measure of buyers to sellers) of 5.75 for eurgbp, implying traders are predominantly very bullish in their outlook for the instrument. And as for which forex pairs are getting the most insightful technical conversations, see NZDCAD. Here’s a remark from one currency trader that we thought was especially worth sharing:

I WONT TOOK ALL THE TRADE PLAN SHARED HERE……I wont give a entry, stop loss and take profit in my chart…it is only for EDUCATIONAL PURPOSE and i am sharing how i am analyzing the pair and labeling them according to the Elliott wave theory…I AM JUST SHOWING THE TREND HOW IT MAY GO AND MY VIEW(it may wrong too)..so DON’T FOLLOW BLINDLY MY CHART..take this as a reference and if it correlate to you strategy took the trade as per your strategy…DON’T ASK ABOUT YOUR RUNNING TRADES i wont comment on them and I WONT SUGGEST TO TAKE MY TRADE SETUP….Each and every trade plan i am sharing here has a alternate view and i am sharing only the most probabilities(70-80%) here…sometimes the other (20-30%) may market do..then i will change the wave counts and labeling according to the price action.
–nzdcad-same plan to 0.8000 but we are in wave b) still ?

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.