EUR/NZD Up 26 Pips in Last 4 Hours, in a Downtrend Over Past 90 Days; Doji and Pin Bar Patterns Appearing on Chart
And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well.
EURNZD
(Last Updated July 7, 2020)
Hello! This is the news page for EURNZD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
On EURNZD, there is currently a downtrend on the 90, 30 and 14 day timeframes.
EURNZD Moving Averages
The moving averages on EURNZD summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bearish, suggesting the trend is generally downward, save for a jump that occurred about 6 months ago.
Below is a chart showing EURNZD’s price with its moving averages.
In terms of correlations over the past week for EURNZD, it has demonstrated the strongest correlation with AUDNZD. Over the past 14 days, however, the asset showing the strongest correlation to EURNZD is EURAUD. On the flip side, CADJPY has been the asset least correlated with EURNZD — but if we observe the prior two weeks, the asset least correlated with EURNZD has been TRYJPY. 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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EUR/NZD Down 5 Pips Over Past 4 Hours, Came Into Today Down For the 3rd Day In A Row; Price Base in Formation Over Past 14 Days
Volatility for eur/nzd has been contracting over the past two weeks relative to volatility over the past month.
EUR/NZD Down 38 Pips On 4 Hour Chart, is Inching Close to 20 and 200 Day Averages; Doji and Pin Bar Patterns Appearing on Chart
It should be noted, though, the 200 day simple moving average turned upwards, which may be a bullish sign.
EUR/NZD Down 15 Pips On 4 Hour Chart, Eyes 20 and 200 Day Averages; Pin Bar Pattern Appearing on Chart
Volatility for eur/nzd has been contracting over the past two weeks relative to volatility over the past month.
EUR/NZD Down 6 Pips in Last 4 Hours, Outperforms All Forex; 2 Day Down Streak Snapped
This imputes a buy/sell ratio of 1.43, which is bullish.
EUR/NZD Down 29 Pips Over Past 4 Hours, Entered Today Down For the 2nd Day In A Row; Nears 200 Day Moving Average
As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern.
EUR/NZD Up 109 Pips in Last 4 Hours, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the forex asset class, eur/nzd ranked 25th the day prior in terms of percentage price change.
EUR/NZD Up 12 Pips On 4 Hour Chart, Nears 200 Day Moving Average; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of channel and trendline technical patterns.
EUR/NZD Down 4 Pips Over Past 4 Hours, Came Into Today Up For the 2nd Day In A Row; is Inching Close to 20 Day Average
The closest is the 20 day average, which is 38.2 pips away.
EUR/NZD Up 29 Pips in Last 4 Hours, in a Downtrend Over Past 30 Days; Nears 200 Day Moving Average
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.