EUR/NZD Up 10 Pips On 4 Hour Chart, Entered Today Up For the 4th Day In A Row; in a Downtrend Over Past 90 Days

EUR/NZD 4 Hour Price Update

Updated July 27, 2020 09:07 PM GMT (05:07 PM EST)

EUR/NZD is up 10 pips (0.06%) since the previous 4 hours (opening the current 4 hour candle near 1.7594), marking the 5th candle in a row an upward move has occurred. Out of the 37 instruments in the Forex asset class, EUR/NZD ended up ranking 13th 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 is up 8 pips (0.04%) since yesterday (opening today near 1.75436), marking the 4th day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EUR/NZD ranked 16th yesterday in terms of percentage price change. Below is a price chart of EUR/NZD.

EUR/NZD

EUR/NZD Technical Analysis

Notably, EUR/NZD is now close to its 20, 50, 100 and 200 day averages, located at 1.7336, 1.7416, 1.7705 and 1.7479 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 200 day average, which is 64.9 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 day timeframe. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 15 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURNZD, with 10 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 1.43, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel, demand zone, fibonacci and trendline technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.