EURNZD Up 11 Pips On Hourly Chart; in a Downtrend Over Past 14 Days
It’s been a feast for bulls operating on an hourly timeframe, as eurnzd has now gone up 9 of the past 10 hours.
(Last Updated January 12, 2021)
Hello! This is the news page for EURNZD. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
---|---|---|---|---|---|---|---|
Euro Area ECB President Lagarde Speech | NA | Euro | EUR | 2021-01-13 | 09:00 GMT | ||
Euro Area Industrial Production MoM | Nov 2020 | Euro | EUR | 2021-01-13 | 10:00 GMT | 0.2% | |
Euro Area Industrial Production YoY | Nov 2020 | Euro | EUR | 2021-01-13 | 10:00 GMT | -3.3% | |
Euro Area ECB Monetary Policy Meeting Accounts | NA | Euro | EUR | 2021-01-14 | 12:30 GMT | ||
Euro Area Balance of Trade | Nov 2020 | Euro | EUR | 2021-01-15 | 10:00 GMT | €26B |
If we observe the 90, 30 and 14 day timeframes, we see a downtrend in place for EURNZD.
The moving averages on EURNZD indicate a trend that is clearly bearish.
The chart below illustrates.
Regarding EURNZD’s correlations over the past 7 days, it has demonstrated the strongest correlation with EURAUD. EURNZD has been most correlated with EURAUD over the past 14 days also, so this may be a structural correlation in the market. On the flip side, USDCHF has been the asset least correlated with EURNZD — but if we observe the prior two weeks, USDJPY has been the asset least correlated with EURNZD. See the chart below to observe the recent price action in EURNZD versus those of assets it hasn’t been well correlated with.
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At the time of this writing, EURNZD’s rate is up 87 pips (0.52%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly 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. The weekly chart below shows EURNZD’s price action over the past year.
Strongest trend on the 60 month timeframe.
It’s been a feast for bulls operating on an hourly timeframe, as eurnzd has now gone up 9 of the past 10 hours.
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
This move is a reversal from the hour prior, which saw price move down.
Of note is that the 50 hour changed directions on eurnzd; it is now pointing down.
This move is a reversal from the hour prior, which saw price move down.
Compared to its peers in the forex, eurnzd gave its buyers a return that ranked 24th in terms of percentage change since the day prior.
This is a reversal of the price action on the previous hour, in which price moved down.
Relative to other instruments in the forex asset class, eurnzd ranked 6th the previous day in terms of percentage price change.
This move is a reversal from the hour prior, which saw price move down.
Of note is that the 20 hour changed directions on eurnzd; it is now pointing up.