(Last Updated January 4, 2021 2:21 GMT)
At the time of this writing, NZDCAD’s rate is down -4 pips (-0.04%) from the hour prior. NZDCAD has seen its price go down 9 out of the past 10 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them with price now being below it. 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 entered today at 0.91678, down 17 pips (0.19%) from the previous day. Relative to other instruments in the Forex asset class, NZDCAD ranked 30th the previous day in terms of percentage price change. 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 0.9079 and 0.9 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 up. Or to simplify this another way, note that out of the past 30 days NZDCAD’s price has gone up 17 them.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 3 sell signals and 2 buy signals. This imputes a buy/sell ratio of 0.67, which is bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.