EUR/NZD Down 28 Pips On 4 Hour Chart; Pin Bar Pattern Appearing on Chart

EUR/NZD 4 Hour Price Update

Updated March 27, 2020 12:50 AM GMT (08:50 PM EST)

EUR/NZD entered the current 4 hour candle at 1.8489, down 28 pips (0.15%) from the last 4 hour candle. Out of the 40 instruments in the Forex asset class, EUR/NZD ended up ranking 27th for the four-hour candle in terms of price change.

EUR/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/NZD entered today at 1.8542, up 42 pips (0.23%) from the day prior. Relative to other instruments in the Forex asset class, EUR/NZD ranked 7th the day prior in terms of percentage price change. Here is a price chart of EUR/NZD.

EUR/NZD Technical Analysis

Notably, EUR/NZD is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 184.6 pips away. Volatility for EUR/NZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up 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.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURNZD, with 5 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 1.67, which is bullish. Here’s a piece we found on that we thought you might enjoy.