EUR/NZD Up 26 Pips in Last Hour, in an Uptrend Over Past 30 Days; Sentiment Suggests Sellers in Charge

Hourly Update

(Last Updated December 20, 2021 1:39 GMT)

Currently, EURNZD’s rate is up 26 pips (0.16%) from the hour prior. This is the 2nd consecutive hour EURNZD has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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)

The back and forth price flow continues for EURNZD, which started today off at 1.66617, down 23 pips 0.14% from the day prior. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 25th in terms of percentage change since the day prior. Let’s take a look at price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Coming into today EURNZD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 53.4 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Volatility for EURNZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone down 6 out of the past 10 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURNZD; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

looking for shorts on ENHTF mitigationSND flip ££ needs sweeping