EUR/NZD Down 6 Pips On 4 Hour Chart; Pin Bar Pattern Appearing on Chart
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 and 30 day timeframes.
EURNZD
(Last Updated March 4, 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:
Forex Calendar for EURNZD
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Euro Area Unemployment Rate | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | 8.3% | 8.1% |
| Euro Area Retail Sales YoY | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | -1.2% | -6.4% |
| Euro Area Retail Sales MoM | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | -1.1% | -5.9% |
The Trend
If we observe the 90, 30 and 14 day timeframes, we see a downtrend in place for EURNZD.
EURNZD Moving Averages
The moving averages on EURNZD indicate a trend that is clearly bearish.
The chart below illustrates.
As for assets in the Forex asset class EURNZD has been correlated to over the past week, it has demonstrated the strongest correlation with NZDUSD. Over the past 14 days, however, AUDJPY is the asset most correlated to EURNZD. On the flip side, the asset least correlated with EURNZD over the past week has been GBPCAD, but over the past two weeks, the asset least correlated with EURNZD has been USDJPY. The chart below illustrates EURNZD against its least correlated assets.
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The View From the Weekly Timeframe
Currently, EURNZD’s rate is down -24 pips (-0.14%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURNZD. Given that we see downtrend on the 20 and 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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
Monthly trend: strongest on the 60 month timeframe.
EUR/NZD Down 38 Pips On 4 Hour Chart, Moves Down For the 3rd Day In A Row; Social Sentiment Biased Towards Selling
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
EUR/NZD Up 37 Pips Over Past 4 Hours, Entered Today Up For the 2nd Day In A Row; Eyes 20 Day Average
For additional context, note that price has gone down 16 out of the past 30 days.
EUR/NZD Down 8 Pips in Last 4 Hours, 2 Day Up Streak Ended; Doji and Pin Bar Patterns 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 28 Pips On 4 Hour Chart; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the forex asset class, eur/nzd ranked 7th the day prior in terms of percentage price change.
EUR/NZD Up 57 Pips in Last 4 Hours, 4 Day Down Streak Broken; Eyes 20 Day Average
🔸 It has bounced at the upper trendline of the daily ascending channel..
EUR/NZD Up 127 Pips Over Past 4 Hours, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
The closest is the 20 day average, which is 255.9 pips away.
EUR/NZD Down 143 Pips in Last 4 Hours, Entered Today Down For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart
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.
EUR/NZD Down 57 Pips Over Past 4 Hours, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days
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.
EUR/NZD Up 512 Pips; in an Uptrend Over Past 30 Days
The closest is the 20 day average, which is 1204.5 pips away.