EUR/CAD Down 20 Pips Over Past 4 Hours, Moves Down For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
Forex News
(Last Updated January 15, 2021 23:24 GMT)
FX Market Hourly Update
Over the past hour, EURNOK has been an especially big mover in the forex market, increasing 88 pips (0.09%). Traders interested in intraday trends may wish to observe GBPJPY, which has been in a downtrend over the past 20 price candles. Last but not least, USDHKD‘s 50 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 ZARJPY, USDZAR, and USDMXN. 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 ZAR was the outperformer for the day, moving by 1.07%. On the flip side, USD fared the worst, moving by -0.36%.
And in terms of interesting streaks, CADJPY and AUDNZD have now rallied 8 out of the past ten trading days.
Forex Trend News
Over the past two weeks, the strongest trend has been on AUDJPY. 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 ZARJPY and USDZAR. 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 NZDCAD and EURJPY. Price bases often precede increases in volatility and a clear trend.Moving Averages in the Forex World
Below is a list of currency pairs that crossed key moving average levels over the past day.| Currency Pair | Moving Average Period Crossed |
|---|---|
| ZARJPY | 50 |
| USDZAR | 50 |
| USDHKD | 20 |
| GBPCAD | 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.
One other point on moving averages: instruments in the Forex asset class that are near their 200 day moving average are USDHKD and USDTRY.
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.EUR/GBP Down 2 Pips in Last 4 Hours, in a Downtrend Over Past 14 Days; is Inching Close to 50 Day Average
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.
GBP/JPY Up 20 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Moves Up For the 5th Day In A Row
Volatility for gbp/jpy has been contracting over the past two weeks relative to volatility over the past month.
GBP/CHF Up 10 Pips Over Past 4 Hours, in a Downtrend Over Past 90 Days; Price Base in Formation Over Past 30 Days
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
USD/CHF Down 1 Pips in Last 4 Hours, Moves Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart
The closest is the 20 day average, which is 4.4 pips away.
GBP/USD Up 13 Pips Over Past 4 Hours, Came Into Today Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart
The closest is the 50 day average, which is 147.9 pips away.
CAD/CHF Up 14 Pips On 4 Hour Chart, Entered Today Up For the 2nd Day In A Row; in an Uptrend Over Past 14 Days
As for the rationale, technical traders seem to be citing the appearance of channel and trendline technical patterns.
NZD/JPY Up 3 Pips On 4 Hour Chart, Moves Up For the 5th Day In A Row; Price Base in Formation Over Past 14 Days
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
NZD/CHF Down 0 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 90 Days
Or to simplify this another way, note that out of the past 30 days nzd/chf’s price has gone up 15 them.
NZD/CAD Down 17 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Crosses 50 Day Moving Average
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.