NZD/CHF Up 4 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Doji and Pin Bar Patterns Appearing on Chart

Hourly Update

(Last Updated May 13, 2022 1:43 GMT)

At the time of this writing, NZDCHF’s rate is up 4 pips (0.06%) from the hour prior. This is the 2nd hour in a row NZDCHF has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend 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 an uptrend on the 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)

A moment of silence, please, for the end of NZDCHF’s 3 day down streak; price ended yesterday up 8 pips (0.13%) to finish the day at a rate of 0.6260767514. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 10th in terms of percentage change since yesterday. Let’s take a look at price chart of NZDCHF.

NZDCHF

NZDCHF Technical Analysis

Coming into today the current price of NZDCHF is sitting close to its 20, 50, 100 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 100 day average, which is 21.9 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone down 17 out of the past 30 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 3 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.

This is an educational + analytic content that will teach why and how to enter a tradeMake sure you watch the price action closely in each analysis as this is a very important part of our methodDisclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions