EURNZD Up 3 Pips On Hourly Chart, 2 Day Up Streak Ended; Crosses 200 Day Moving Average

Hourly Update

(Last Updated July 22, 2021 3:18 GMT)

At the moment, EURNZD’s rate is up 3 pips (0.02%) from the hour prior. EURNZD has seen its price go up 5 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji 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. With that said, traders should also note the downtrend on the 5 hourly candle timeframe, so the meaning of the candles may require further exploration. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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)

The back and forth price flow continues for EURNZD, which started today off at 1.69374, down 89 pips 0.52% from yesterday. Relative to other instruments in the Forex asset class, EURNZD ranked 34th yesterday in terms of percentage price change. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

First things first: EURNZD crossed below its 200 day moving average yesterday. 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 14.8 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 8 out of the past 14 days.