(Last Updated March 31, 2021 0:19 GMT)
At the moment, EURNZD’s rate is down 1 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURNZD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 hour changed directions on EURNZD; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 102 pips (0.6%) since the previous day (opening today near 1.68001), marking the 3rd day in a row a decline has happened. Relative to other instruments in the Forex asset class, EURNZD ranked 35th the previous day in terms of percentage price change. The price chart of EURNZD below illustrates.
EURNZD Technical Analysis
Coming into today the current price of EURNZD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 7 out of the past 14 days.