EURNZD Up 7 Pips On Hourly Chart, Tops All Forex; 2 Day Down Streak Ended

Hourly Update

(Last Updated May 31, 2021 2:19 GMT)

At the moment, EURNZD’s rate is up 7 pips (0.04%) 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. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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 1.6834, up 99 pips 0.59% from the day prior. For context, observe that the day prior was noteworthy in the sense that EURNZD bested all 39 of the assets in the Forex class. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

First things first: EURNZD crossed above its 20, 50 and 100 day moving averages 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 20 day average, which is 21.1 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days EURNZD’s price has gone up 17 them.