(Last Updated June 10, 2021 18:21 GMT)
At the time of this writing, EURNZD’s rate is down -5 pips (-0.03%) from the hour prior. EURNZD has seen its price go down 4 out of the past 5 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. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
EURNZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
EURNZD is up 56 pips (0.33%) since the previous day (opening today near 1.69785), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 3rd in terms of percentage change since the previous day. Below is a price chart of EURNZD.
EURNZD Technical Analysis
The first thing we should note is that the current price of EURNZD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 95.7 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days EURNZD’s price has gone up 19 them.