(Last Updated November 13, 2020 1:32 GMT)
At the time of this writing, NZDCHF’s rate is up 0.0009 (0.14%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NZDCHF has now gone down 9 of the past 10 hours. 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 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 20, 50, 100 and 200 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, which opened today priced near 0.6253, is down 56 pips 0.88% since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Relative to other instruments in the Forex asset class, NZDCHF ranked 33rd the previous day in terms of percentage price change. Here is a price chart of NZDCHF.
NZDCHF Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone up 7 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on NZDCHF, with 3 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.6, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
The NZDCHF has created a new trendline in the daily and has already started the decline, hopefully now it will continue to the lower support.Trade with care during high risk events.Good Luck.Before to trade my ideas make your own analysis.