(Last Updated September 8, 2021 12:20 GMT)
At the moment, NZDCAD’s rate is up 1 pips (0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NZDCAD has now gone up 5 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 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)
The back and forth price flow continues for NZDCAD, which started today off at 0.8975418486, up 31 pips 0.34% from yesterday. Relative to other instruments in the Forex asset class, NZDCAD ranked 11th yesterday in terms of percentage price change. Below is a price chart of NZDCAD.
NZDCAD Technical Analysis
Notably, 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. Or to simplify this another way, note that out of the past 10 days NZDCAD’s price has gone up 8 them.
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 take that with a grain of salt. 🙂 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