(Last Updated October 27, 2020 2:17 GMT)
Currently, EURNZD’s rate is up 1 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
EURNZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for EURNZD, which started today off at 1.76742, down 47 pips 0.26% from the day prior. Out of the 40 instruments in the Forex asset class, EURNZD ended up ranking 35th for the day in terms of price change. Here is a price chart of EURNZD.
EURNZD Technical Analysis
First things first: EURNZD crossed below its 200 day moving average yesterday. 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 18.2 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 up. For additional context, note that price has gone down 6 out of the past 10 days.