EURNZD Down 3 Pips On Hourly Chart, 2 Day Down Streak Broken; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated June 9, 2021 20:20 GMT)

At the time of this writing, EURNZD’s rate is down -3 pips (-0.02%) from the hour prior. The hourly chart shows that EURNZD has seen 3 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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)

EURNZD entered today at 1.69221, up 46 pips (0.27%) from the previous day. Out of the 39 instruments in the Forex asset class, EURNZD ended up ranking 3rd for the day in terms of price change. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

The first thing we should note is that EURNZD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 48.6 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days.