NZDUSD Down 0 Pips On Hourly Chart, Came Into Today Up For the 4th Straight Day; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated February 25, 2021 0:25 GMT)

Currently, NZDUSD’s rate is down 0 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NZDUSD. Given that we see an uptrend 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NZDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDUSD is up 11 pips (0.16%) since the day prior (opening today near 0.73414), marking the 4th straight day it has gone up. Compared to its peers in the Forex, NZDUSD gave its buyers a return that ranked 19th in terms of percentage change since the day prior. The price chart of NZDUSD below illustrates.

NZDUSD

NZDUSD Technical Analysis

The first thing we should note is that the current price of NZDUSD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days NZDUSD’s price has gone up 9 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!