EUR/NZD 4 Hour Price Update
Updated August 03, 2020 05:08 AM GMT (01:08 AM EST)
EUR/NZD is down 1 pips (0.01%) since the previous 4 hours (opening the current 4 hour candle near 1.7752), marking the 4th candle in a row a decrease has occurred. Out of the 37 instruments in the Forex asset class, EUR/NZD ended up ranking 18th for the four-hour candle in terms of price change.
EUR/NZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
A moment of silence, please, for the end of EUR/NZD’s 9 day up streak; price ended the day prior down 3 pips (-0.02%) to finish the day at a rate of 1.77572. Out of the 40 instruments in the Forex asset class, EUR/NZD ended up ranking 29th for the day in terms of price change. Let’s take a look at price chart of EUR/NZD.
EUR/NZD Technical Analysis
Notably, EUR/NZD 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 100 day average, which is 93.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 10 out of the past 14 days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.
The View From Around the Web
Of note is that traders in aggregate have opinions on EURNZD, with 11 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 1.38, which is bullish. As for the rationale, technical traders seem to be citing the appearance of moving average, stochastic and supply zone technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.