NZD/CAD 4 Hour Price Update
Updated March 24, 2020 03:17 AM GMT (11:17 PM EST)
NZD/CAD is up 51 pips (0.62%) since the last 4 hour candle (opening the current 4 hour candle near 0.8309), marking the 3rd candle in a row an upward move has occurred. Relative to other instruments in the Forex asset class, NZD/CAD ranked 11th the last 4 hour candle in terms of percentage price change.
NZD/CAD Daily New York Session Recap
Updated 21:00 GMT (17:00 EST)
NZD/CAD is down 37 pips (0.45%) since the close of the previous day’s New York session (opening today’s post-New York session near 0.81827), marking the 4th day in a row a decrease has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 18.68% from the day prior, but up 47.2% from the same day the week before. Out of the 40 instruments in the Forex asset class, NZD/CAD ended up ranking 34th for the day in terms of price change. The price chart of NZD/CAD below illustrates.
NZD/CAD Technical Analysis
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 244.8 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 down. Or to simplify this another way, note that out of the past 30 days NZD/CAD’s price has gone down 18 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 1 sell signals and 2 buy signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com that we thought you might enjoy.