NZD/CAD Down 2 Pips in Last Hour; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 8, 2021 1:50 GMT)

At the time of this writing, NZDCAD’s rate is down -2 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCAD. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 entered today at 0.8975418486, up 31 pips (0.34%) from the day prior. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 11th in terms of percentage change since the day prior. Let’s take a look at price chart of NZDCAD.

NZDCAD

NZDCAD Technical Analysis

The first thing we should note is that the current price of NZDCAD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 58 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 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 3 buy 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.

HELLO EVER ONE AS YOU SEE NZD CAD BROKE THROUTH resistance and this is a old up trend we need a pull back sill buyer has upper hand to push 0.90 and 0.90500 i would like to wait and see what will happen 0.8900 and 0.90