NZDCAD Down 6 Pips On Hourly Chart, Makes Big Move Relative to Past Two Months; Moves Up For the 2nd Consecutive Day

Hourly Update

(Last Updated February 22, 2021 23:22 GMT)

Currently, NZDCAD’s rate is down -6 pips (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NZDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCAD is up 52 pips (0.56%) since yesterday (opening today near 0.920533572), marking the 2nd consecutive day it has gone up. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 9th for the day in terms of price change. Let’s take a look at price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

First things first: NZDCAD crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 16 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 0 sell signals and 2 buy signals. Bulls may note that this suggests a buy/sell ratio that is 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.

Hello Traders,I share an idea I have about NZDCADThis is not an entry signal, the confirmation to make the entry is still missing, remember to follow me on Tradingview so as not to be able to give you the entry signalThank you, don’t forget to LIKE the idea