(Last Updated April 2, 2021 23:21 GMT)
At the moment, NZDCAD’s rate is up 7 pips (0.07%) from the hour prior. The hourly chart shows that NZDCAD has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists 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 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 50 hour changed directions on NZDCAD; it is now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
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 0.8811035228, up 39 pips 0.45% from yesterday. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 4th in terms of percentage change since yesterday. Below is a price chart of NZDCAD.
NZDCAD Technical Analysis
Coming into today the current price of NZDCAD is sitting close to its 20 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 20 day average, which is 106.6 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 14 days NZDCAD’s price has gone up 7 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on NZDCAD, with 0 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of head and shoulders technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.