EURNZD Down 22 Pips in Last Hour; Entered Today Down For the 3rd Straight Day

Hourly Update

(Last Updated January 1, 2021 3:19 GMT)

At the moment, EURNZD’s rate is down -22 pips (-0.13%) from the hour prior. The hourly chart shows that EURNZD has seen 2 straight down hours. 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 downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

EURNZD is down 63 pips (0.37%) since yesterday (opening today near 1.69941), marking the 3rd straight day a decrease has occurred. Relative to other instruments in the Forex asset class, EURNZD ranked 32nd yesterday in terms of percentage price change. Below is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Coming into today EURNZD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 5 out of the past 10 days.