EURNZD Down 5 Pips Over Past Hour, in a Downtrend Over Past 30 Days; Nears 20 Day Moving Average

Hourly Update

(Last Updated February 19, 2021 23:19 GMT)

Currently, EURNZD’s rate is down -5 pips (-0.03%) from the hour prior. EURNZD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 entered today at 1.67497, down 0 pips (0%) from yesterday. Relative to other instruments in the Forex asset class, EURNZD ranked 26th yesterday in terms of percentage price change. Below is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

The first thing we should note is that the current price of EURNZD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.