EUR/NZD Down 26 Pips Over Past 4 Hours, is Inching Close to 20 and 200 Day Averages; Pin Bar Pattern Appearing on Chart

EUR/NZD 4 Hour Price Update

Updated June 30, 2020 09:09 PM GMT (05:09 PM EST)

EUR/NZD is down 26 pips (0.15%) since the last 4 hour candle (opening the current 4 hour candle near 1.7409), marking the 3rd candle in a row a decrease has occurred. Out of the 37 instruments in the Forex asset class, EUR/NZD ended up ranking 28th for the four-hour candle in terms of price change.

EUR/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/NZD, which started today off at 1.74968, down 6 pips 0.04% from the previous day. Compared to its peers in the Forex, EUR/NZD gave its buyers a return that ranked 37th in terms of percentage change since the previous day. Let’s take a look at price chart of EUR/NZD.

EUR/NZD Technical Analysis

Coming into today EUR/NZD 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 34.6 pips away. Volatility for EUR/NZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 16 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURNZD, with 11 buy signals on our radar and 16 sell signals. This imputes a buy/sell ratio of 0.69, which is bearish. As for the rationale, technical traders seem to be citing the appearance of trendline and triangle technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.