EUR/NZD Down 57 Pips Over Past 4 Hours, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days

EUR/NZD 4 Hour Price Update

Updated March 26, 2020 05:08 AM GMT (01:08 AM EST)

A moment of silence, please, for the end of EUR/NZD’s 4 four-hour candle up streak; price ended the last 4 hour candle down 57 pips (-0.3%) to finish the four-hour candle at a rate of 1.8693. Compared to its peers in the Forex, EUR/NZD gave its buyers a return that ranked 38th in terms of percentage change since the last 4 hour candle.

EUR/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/NZD is up 231 pips (1.25%) since yesterday (opening today near 1.8763), marking the 2nd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, EUR/NZD ranked 4th yesterday in terms of percentage price change. Below is a price chart of EUR/NZD.

EUR/NZD Technical Analysis

Coming into today EUR/NZD is now close to its 20 day averages, located at 1.8324 respectively, and thus may be at a key juncture along those timeframes. 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 438.7 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 6 out of the past 10 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURNZD, with 4 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 1.33, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel and trendline technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Mini Descending Channel and Double bottom Formed, Both are Reversal pattern.Let see How trade Move.ThankYou