EUR/NZD 4 Hour Price Update
Updated June 19, 2020 09:22 AM GMT (05:22 AM EST)
The back and forth price flow continues for EUR/NZD, which started the current 4 hour candle off at 1.7444, down 15 pips 0.09% from the previous 4 hours. Out of the 37 instruments in the Forex asset class, EUR/NZD ended up ranking 25th 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 1.74253, down 4 pips 0.02% from the previous day. Compared to its peers in the Forex, EUR/NZD gave its buyers a return that ranked 32nd in terms of percentage change since the previous day. Here is a price chart of EUR/NZD.
EUR/NZD Technical Analysis
Notably, the current price of EUR/NZD is sitting close to its 20, 50 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 200 day average, which is 33 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 19 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 12 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 1.2, which is neutral. 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.
EURNZD (Update) In 4h Time frame, EURNZD Facing Major trendline (Resistance)If Bulls Cleared the Trendline (Breakout), Expecting Bullish Wave towards the Major Resistance (1.76**)Expecting 160 PIPS Bullish Movement, so Keep Your Eyes on it..!!…Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!!…Thanks for Your Love & Support..!