EUR/NZD Down 3 Pips On 4 Hour Chart, Came Into Today Down For the 3rd Day In A Row; Nears 20 Day Moving Average

EUR/NZD 4 Hour Price Update

Updated July 02, 2020 01:17 AM GMT (09:17 PM EST)

EUR/NZD is down 3 pips (0.02%) since the previous 4 hours (opening the current 4 hour candle near 1.7365), marking the 2nd candle in a row a decrease has occurred. Compared to its peers in the Forex, EUR/NZD gave its buyers a return that ranked 18th in terms of percentage change since the previous 4 hours.

EUR/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/NZD is down 12 pips (0.07%) since the previous day (opening today near 1.73566), marking the 3rd day in a row it has gone down. Compared to its peers in the Forex, EUR/NZD gave its buyers a return that ranked 38th in terms of percentage change since the previous day. Below is a price chart of EUR/NZD.

EUR/NZD Technical Analysis

Notably, the current price of EUR/NZD is sitting close to its 20, 50 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 86.7 pips away. It should be noted, though, the 20 and 200 day simple moving averages turned downwards, which may be a bearish sign. Volatility for EUR/NZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days EUR/NZD’s price has gone down 18 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURNZD, with 12 buy signals on our radar and 12 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.