EURNZD Down 7 Pips On Hourly Chart; Entered Today Down For the 3rd Straight Day

Hourly Update

(Last Updated February 25, 2021 0:20 GMT)

At the moment, EURNZD’s rate is down -7 pips (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURNZD. Given that we see downtrend on the 20 and 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURNZD is down 43 pips (0.26%) since yesterday (opening today near 1.65531), marking the 3rd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, EURNZD ended up ranking 32nd for the day in terms of price change. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Coming into today the current price of EURNZD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 6 out of the past 10 days.