(Last Updated May 13, 2022 1:40 GMT)
At the moment, EURNZD’s rate is down -18 pips (-0.11%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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)
EURNZD is down 79 pips (0.47%) since the previous day (opening today near 1.66348), marking the 2nd straight day a decline has happened. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 23rd in terms of percentage change since the previous day. Below is a price chart of EURNZD.
EURNZD Technical Analysis
Notably, the current price of EURNZD is sitting close to its 20, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 124.4 pips away. 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. For additional context, note that price has gone up 7 out of the past 10 days.