(Last Updated September 3, 2021 2:20 GMT)
At the time of this writing, NZDCAD’s rate is up 9 pips (0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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.
NZDCAD End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDCAD is up 5 pips (0.06%) since the day prior (opening today near 0.8923337849), marking the 3rd day in a row an upward move has occurred. Out of the 39 instruments in the Forex asset class, NZDCAD ended up ranking 18th for the day in terms of price change. Let’s take a look at price chart of NZDCAD.
NZDCAD Technical Analysis
Notably, NZDCAD crossed above its 200 day moving average 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 200 day average, which is 3.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 10 out of the past 14 days. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!