NZD/CHF Up 1 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated July 19, 2022 1:41 GMT)

Currently, NZDCHF’s rate is up 1 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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)

The back and forth price flow continues for NZDCHF, which started today off at 0.60148104, up 3 pips 0.05% from yesterday. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 21st for the day in terms of price change. The price chart of NZDCHF below illustrates.

NZDCHF

NZDCHF Technical Analysis

Notably, NZDCHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Volatility for NZDCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. For additional context, note that price has gone up 8 out of the past 14 days. 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 NZDCHF; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The pair should retest support in the short term.External scenario still does not allow trend reversal.Like and follow if you like this idea.Thank you for your attention..