(Last Updated January 14, 2022 1:42 GMT)
Currently, EURNZD’s rate is up 3 pips (0.02%) from the hour prior. EURNZD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURNZD. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)
EURNZD is down 27 pips (0.16%) since the day prior (opening today near 1.6682), marking the 2nd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EURNZD ranked 23rd the day prior in terms of percentage price change. Here is a price chart of EURNZD.
EURNZD Technical Analysis
Moving average crossovers are always interesting, so let’s start there: 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 22.8 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days EURNZD’s price has gone up 5 them.