EUR/NZD 4 Hour Price Update
Updated June 26, 2020 01:12 PM GMT (09:12 AM EST)
EUR/NZD entered the current 4 hour candle at 1.7421, down 2 pips (0.01%) from the previous 4 hours. Out of the 37 instruments in the Forex asset class, EUR/NZD ended up ranking 16th for the four-hour candle in terms of price change.
EUR/NZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
EUR/NZD entered today at 1.74456, down 0 pips (0%) from the previous day. Out of the 40 instruments in the Forex asset class, EUR/NZD ended up ranking 31st for the day in terms of price change. Here is a price chart of EUR/NZD.
EUR/NZD Technical Analysis
The first thing we should note is that EUR/NZD is now close to its 20, 50 and 200 day averages, located at 1.743, 1.7693 and 1.7461 respectively, and thus may be at a key juncture along those timeframes. 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 15 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 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 5 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
The View From Around the Web
Of note is that traders in aggregate have opinions on EURNZD, with 7 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 0.64, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
hello traders,here is and update on 1 hour EUR/NZD. I think we are working a double correction. I’m still short with profit targets as shown on fib levels