(Last Updated September 12, 2022 1:43 GMT)
Currently, NZDCHF’s rate is up 2 pips (0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCHF. Given that we see downtrend 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.
NZDCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDCHF is down 10 pips (0.16%) since the previous day (opening today near 0.58678687), marking the 5th day in a row it has gone down. Relative to other instruments in the Forex asset class, NZDCHF ranked 20th the previous day in terms of percentage price change. The price chart of NZDCHF below illustrates.
NZDCHF Technical Analysis
The first thing we should note is that NZDCHF is now close to its 20 and 50 day averages, located at 0.596 and 0.5992 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 8 out of the past 14 days. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!
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.
Trend analysis- LowerLow have broken, confirmation price will downtrend- Sell at Strong Supply BaseLet’s see…Give your Stop Loss with good money management AT CORRELATION PAIR