NZD/CAD Down 9 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Doji and Pin Bar Patterns Appearing on Chart

NZD/CAD 4 Hour Price Update

Updated June 18, 2020 09:08 AM GMT (05:08 AM EST)

NZD/CAD is down 9 pips (0.1%) since the last 4 hour candle (opening the current 4 hour candle near 0.8727), marking the 4th candle in a row it has gone down. Compared to its peers in the Forex, NZD/CAD gave its buyers a return that ranked 31st in terms of percentage change since the last 4 hour candle.

NZD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for NZD/CAD, which started today off at 0.8745025758, down 13 pips 0.15% from the day prior. Relative to other instruments in the Forex asset class, NZD/CAD ranked 32nd the day prior in terms of percentage price change. Let’s take a look at price chart of NZD/CAD.

NZD/CAD Technical Analysis

Notably, NZD/CAD is now close to its 20, 50 and 200 day averages, located at 0.8685, 0.8569 and 0.8536 respectively, and thus may be at a key juncture along those timeframes. 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 59.5 pips away. Volatility for NZD/CAD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days NZD/CAD’s price has gone up 9 them. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 2 sell signals and 2 buy signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.