EUR/NZD 4 Hour Price Update
Updated May 27, 2020 09:10 PM GMT (05:10 PM EST)
EUR/NZD is up 7 pips (0.04%) since the previous 4 hours (opening the current 4 hour candle near 1.7798), marking the 3rd candle in a row it has gone up. Compared to its peers in the Forex, EUR/NZD gave its buyers a return that ranked 22nd in terms of percentage change since the previous 4 hours.
EUR/NZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
EUR/NZD is down 10 pips (0.05%) since yesterday (opening today near 1.77084), marking the 3rd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EUR/NZD ranked 34th yesterday in terms of percentage price change. The price chart of EUR/NZD below illustrates.
EUR/NZD Technical Analysis
Notably, 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 135 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days EUR/NZD’s price has gone down 9 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on EURNZD, with 17 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 2.12, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Let’s take a look at EUR/NZD price at 4H chart….EUR/NZD was our last week biggest winner….With one trade we gained +300 pips, you can check that idea in link below.