EURNZD Down 0 Pips On Hourly Chart, Entered Today Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 6, 2021 23:18 GMT)

Currently, EURNZD’s rate is down 0 pips (0%) from the hour prior. EURNZD has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 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 is down 104 pips (0.62%) since the previous day (opening today near 1.65951), marking the 2nd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EURNZD ranked 38th the previous day in terms of percentage price change. The price chart of EURNZD below illustrates.

EURNZD

EURNZD Technical Analysis

Coming into today 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 246.4 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days EURNZD’s price has gone down 7 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURNZD, with 4 buy signals on our radar and 0 sell signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Buy – compra – really eurnzd esperamos reacción en zona de alta demanda para el activo EURNZD