EURNZD Down 20 Pips Over Past Hour, Nears 20 and 50 Day Moving Averages; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated April 2, 2021 23:19 GMT)

Currently, EURNZD’s rate is down -20 pips (-0.12%) from the hour prior. EURNZD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of EURNZD continues; to start today, it came in at a price of 1.67696, down 25 pips (0.15%) since the day prior. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 29th in terms of percentage change since the day prior. The price chart of EURNZD below illustrates.

EURNZD

EURNZD Technical Analysis

The first thing we should note is that 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 10 days EURNZD’s price has gone up 5 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.