EURNZD Up 7 Pips Over Past Hour; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated January 13, 2021 2:19 GMT)

Currently, EURNZD’s rate is up 7 pips (0.04%) from the hour prior. This is the 2nd hour in a row EURNZD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 50 hour changed directions on EURNZD; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 entered today at 1.68921, down 70 pips (0.41%) from the day prior. Relative to other instruments in the Forex asset class, EURNZD ranked 29th the day prior 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 EURNZD is now close to its 20 and 50 day averages, located at 1.7072 and 1.7146 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 9 out of the past 14 days.