EUR/NZD Up 2 Pips On 4 Hour Chart; Nears 20 and 100 Day Moving Averages

EUR/NZD 4 Hour Price Update

Updated May 25, 2020 09:10 PM GMT (05:10 PM EST)

EUR/NZD entered the current 4 hour candle at 1.7858, up 2 pips (0.01%) from the last 4 hour candle. Relative to other instruments in the Forex asset class, EUR/NZD ranked 17th the last 4 hour candle in terms of percentage price change.

EUR/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of EUR/NZD continues; to start today, it came in at a price of 1.78673, down 1 pips (0%) since the day prior. Relative to other instruments in the Forex asset class, EUR/NZD ranked 25th the day prior in terms of percentage price change. Let’s take a look at price chart of EUR/NZD.

EUR/NZD Technical Analysis

The first thing we should note is that the current price of EUR/NZD 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 100 day average, which is 46.5 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Or to simplify this another way, note that out of the past 10 days EUR/NZD’s price has gone down 6 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURNZD, with 21 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 1.91, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on that we thought you might enjoy.