EURNZD Up 26 Pips in Last Hour; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated January 18, 2021 1:19 GMT)

Currently, EURNZD’s rate is up 26 pips (0.15%) from the hour prior. EURNZD has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend 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 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 50 hour changed directions on EURNZD; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 1.68282, down 103 pips 0.61% from the day prior. Relative to other instruments in the Forex asset class, EURNZD ranked 38th the day prior in terms of percentage price change. The price chart of EURNZD below illustrates.

EURNZD

EURNZD Technical Analysis

Notably, EURNZD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 9 out of the past 14 days.