EUR/NZD Up 26 Pips in Last 4 Hours, in a Downtrend Over Past 90 Days; Doji and Pin Bar Patterns Appearing on Chart

EUR/NZD 4 Hour Price Update

Updated June 24, 2020 01:09 PM GMT (09:09 AM EST)

EUR/NZD is up 26 pips (0.15%) since the last 4 hour candle (opening the current 4 hour candle near 1.7563), marking the 3rd candle in a row it has gone up. Relative to other instruments in the Forex asset class, EUR/NZD ranked 8th the last 4 hour candle in terms of percentage price change.

EUR/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/NZD, which started today off at 1.74047, down 12 pips 0.07% from yesterday. Out of the 40 instruments in the Forex asset class, EUR/NZD ended up ranking 36th for the day in terms of price change. Below is a price chart of EUR/NZD.

EUR/NZD Technical Analysis

Notably, EUR/NZD is now close to its 20, 50 and 200 day averages, located at 1.743, 1.7704 and 1.7459 respectively, and thus may be at a key juncture along those timeframes. 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 24.8 pips away. 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 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 8 out of the past 14 days. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on EURNZD, with 13 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 1.18, which is neutral. As for the rationale, technical traders seem to be citing the appearance of channel, flag and wedge technical patterns. Here’s a piece we found on that we thought you might enjoy.