(Last Updated September 18, 2020)
Hello! This is the news page for GBPNZD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
If we observe the 30 and 14 day timeframes, we see a downtrend in place for GBPNZD.
Nuances in the trend on GBPNZD can be understood by observing the behavior of its moving averages. Of the 20, 50, 100, and 200 day averages — three of them (all but the 50) — are bearish, implying a downward trend, save for a jump that occurred about 7 weeks ago.
Below is a chart showing GBPNZD’s price with its moving averages.
Regarding GBPNZD’s correlations over the past 7 days, it has been most correlated with GBPAUD. GBPNZD has been most correlated with GBPAUD over the past 14 days also, so this may be a structural correlation in the market. Alternatively, EURCHF has been the asset least correlated with GBPNZD — but over the past two weeks, the asset least correlated with GBPNZD has been AUDNZD. See the chart below to observe the recent price action in GBPNZD versus those of assets it hasn’t been well correlated with.
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At the moment, GBPNZD’s rate is up 0.0022 (0.11%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. GBPNZD’s weekly price action over the past 52 weeks can be seen via the chart below.
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
I see a well respected channel on the monthly frame….
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
This is a reversal of the price action on the previous hour, in which price moved down.
This imputes a buy/sell ratio of 2.67, which is bullish.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
This imputes a buy/sell ratio of 2.25, which is bullish.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
Or to simplify this another way, note that out of the past 14 days gbpnzd’s price has gone down 8 them.