(Last Updated May 4, 2021 2:21 GMT)
At the time of this writing, GBPNZD’s rate is up 12 pips (0.06%) from the hour prior. GBPNZD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. 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.
GBPNZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPNZD is up 37 pips (0.19%) since yesterday (opening today near 1.93131), marking the 3rd day in a row an upward move has occurred. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 16th in terms of percentage change since yesterday. Let’s take a look at price chart of GBPNZD.
GBPNZD Technical Analysis
Coming into today GBPNZD 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 200 day average, which is 29.1 pips away. Volatility for GBPNZD 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 30 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 10 days GBPNZD’s price has gone up 5 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.