NZD/CHF Up 1 Pips On Hourly Chart, Entered Today Down For the 7th Straight Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 14, 2022 1:42 GMT)

At the moment, NZDCHF’s rate is up 1 pips (0.02%) from the hour prior. NZDCHF has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDCHF. Given that we see downtrend on the 20 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.

NZDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCHF is down 87 pips (1.49%) since yesterday (opening today near 0.57639548), marking the 7th straight day it has gone down. Relative to other instruments in the Forex asset class, NZDCHF ranked 36th yesterday in terms of percentage price change. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone down 8 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; 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; below is a short snippet from it to give you a taste.

Nice little trade on NZDCHF this morning now we wait to see if we are to get into shorts or wait for the break retest and long again. Always be patient in these situations. Can be so easy to just jump in the trade ans then later wish you just waited for some sort of confirmation. If we see a reversal happening off this descending trend line and we have candle closures toconfirm then we will look to get in to shorts back down to 0.58274. Like wise if we continue to see upward momentum then we will wait for the break of the trend, then wait for price toretest the trend and enter intoour long positions. Be patient. Any questions drop a comment!