EURNZD Down 6 Pips Over Past Hour, Fares the Worst Out of Forex; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated October 15, 2021 23:17 GMT)

At the moment, EURNZD’s rate is down -6 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 1.64758, down 164 pips (0.99%) from yesterday. It may be worth observing that EURNZD was the worst performer of the 39 members in the Forex asset class over the past day. Let’s take a look at price chart of EURNZD.

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 20 day average, which is 217.7 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. 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. Or to simplify this another way, note that out of the past 14 days EURNZD’s price has gone down 9 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURNZD; just 0 sell signals and 3 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Looking at EURNZD. I am currently waiting to see how the daily closes. If price closes under 1.65000 on the daily, then I can see price drop to the next zone which is price 1.63500If you agree, please give this post a like and follow for more…Trade responsibly.