EURNZD Down 1 Pips Over Past Hour, 3 Day Up Streak Ended; Nears 20 and 50 Day Moving Averages
Price action traders may also wish to note that we see a pin bar candlestick pattern on eurnzd.
EURNZD
(Last Updated April 15, 2021)
Welcome to the news page for EURNZD (EURNZD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for EURNZD
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| New Zealand Business NZ PMI | Mar 2021 | New Zealand Dollar | NZD | 2021-04-15 | 22:30 GMT | ||
| Euro Area Eurogroup Video Conference | NA | Euro | EUR | 2021-04-16 | 08:00 GMT | ||
| Euro Area Core Inflation Rate YoY Final | Mar 2021 | Euro | EUR | 2021-04-16 | 09:00 GMT | 0.9% | |
| Euro Area Inflation Rate YoY Final | Mar 2021 | Euro | EUR | 2021-04-16 | 09:00 GMT | 1.3% | |
| Euro Area Balance of Trade | Feb 2021 | Euro | EUR | 2021-04-16 | 09:00 GMT |
The Trend
As for trends on EURNZD, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.
EURNZD Moving Averages
The moving averages on EURNZD summarize its price action in an interesting way. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, while the 100 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data.
The chart below illustrates.
In terms of correlations over the past week for EURNZD, it has been most correlated with NZDJPY. Over the past 14 days, however, NZDCHF is the asset most correlated to EURNZD. Alternatively, the asset least correlated with EURNZD over the past week has been GBPAUD, but if we observe the prior two weeks, the asset least correlated with EURNZD has been NZDCAD. The chart below illustrates EURNZD against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, EURNZD’s rate is down -133 pips (-0.79%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. As for the trend on the weekly timeframe, we see the clearest trend 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. EURNZD’s weekly price action over the past 52 weeks can be seen via the chart below.
EURNZD: The Monthly View
Clearest trend on the monthly is apparent at the 60 month timeframe.
EURNZD Up 10 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; is Inching Close to 20 and 50 Day Averages
The closest is the 20 day average, which is 49 pips away.
EURNZD Down 7 Pips in Last Hour; Crosses 20 and 50 Day Moving Averages
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.
EURNZD Down 4 Pips in Last Hour; Breaks Below 20 and 50 Day Averages
As for the rationale, technical traders seem to be citing the appearance of demand zone technical patterns.
EURNZD Up 7 Pips On Hourly Chart, Tops All Forex; 2 Day Down Streak Ended
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
EURNZD Up 8 Pips Over Past Hour, Fares the Worst Out of Forex; Crosses 20, 50 and 100 Day Moving Averages
The closest is the 100 day average, which is 19.9 pips away.
EURNZD Down 7 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Doji Pattern Appearing on Chart
And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well.
EURNZD Down 11 Pips Over Past Hour; in an Uptrend Over Past 14 Days
This move is a reversal from the hour prior, which saw price move up.
EUR/NZD Up 6 Pips Over Past Hour, Price Base in Formation Over Past 90 Days; Pin Bar Pattern Appearing on Chart
Our 1st buy liimit is placed at 1.6850 (with a 1% risk position size)our 2nd buy liimit is placed at 1.6800 (with a 1% risk position size), totaling a 2% risk, should both positions get filed.
EURNZD Up 2 Pips On Hourly Chart, 3 Day Up Streak Broken; Price Base in Formation Over Past 30 and 90 Days
The closest is the 200 day average, which is 163.1 pips away.