(Last Updated September 16, 2022 1:43 GMT)
At the moment, NZDCAD’s rate is down -4 pips (-0.05%) 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 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)
The back and forth price flow continues for NZDCAD, which started today off at 0.78912282, down 8 pips 0.1% from yesterday. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 26th in terms of percentage change since yesterday. Here is a price chart of NZDCAD.
NZDCAD Technical Analysis
Coming into today NZDCAD is now close to its 20 and 50 day averages, located at 0.7985 and 0.8036 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days NZDCAD’s price has gone up 9 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
BEFORE OPENING YOUR TRADE: – Remember risk management 1-3% of your capital – Take profit of your position partially – Don’t open too many orders at the same time – Be patient – Don’t be so greedy – Waiting for a candle close and executing your plan.- DON’T FOLLOW BLINDLY – ALWAYS DO YOUR ANALYSIS BEFORE MAKING A TRADE! YOUR TRADE IS YOUR DECISION!