EURNZD Up 13 Pips Over Past Hour, Moves Down For the 3rd Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 13, 2021 11:18 GMT)

At the moment, EURNZD’s rate is up 13 pips (0.08%) from the hour prior. The hourly chart shows that EURNZD has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURNZD. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

EURNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURNZD is down 29 pips (0.17%) since the day prior (opening today near 1.66108), marking the 3rd day in a row a decrease has occurred. Out of the 39 instruments in the Forex asset class, EURNZD ended up ranking 36th for the day in terms of price change. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Coming into today EURNZD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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. The closest is the 20 day average, which is 207.7 pips away. 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. For additional context, note that price has gone down 6 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!