It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 and 30 day timeframes.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
For additional context, note that price has gone down 16 out of the past 30 days.
Volatility for eur/nzd has been contracting over the past two weeks relative to volatility over the past month.
Relative to other instruments in the forex asset class, eur/nzd ranked 7th the day prior in terms of percentage price change.
🔸 It has bounced at the upper trendline of the daily ascending channel..
The closest is the 20 day average, which is 255.9 pips away.
The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 11.05% from the day prior, but up 57.07% from the same day the week before.
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.
The closest is the 20 day average, which is 1204.5 pips away.