NZD/CAD Up 5 Pips On Hourly Chart, 2 Day Up Streak Broken; in an Uptrend Over Past 30 Days
This imputes a buy/sell ratio of 0.44, which is bearish.
NZDCAD
(Last Updated November 27, 2020)
Hello! This is the news page for NZDCAD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
On NZDCAD, there is currently an uptrend on the 90, 30 and 14 day timeframes.
NZDCAD Moving Averages
Across several time periods between 20 and 200 days, the trend on NZDCAD has remained consistently bullish.
Below is a chart showing NZDCAD’s price with its moving averages.
Regarding NZDCAD’s correlations over the past 7 days, it has demonstrated the strongest correlation with NZDUSD. NZDUSD is the asset with which NZDCAD has been most correlated with over the past two weeks as well, so this may be a structural correlation in the market. Alternatively, GBPAUD has been the asset least correlated with NZDCAD — but if we observe the prior two weeks, USDCAD has been the asset least correlated with NZDCAD. The chart below illustrates NZDCAD against its least correlated assets.
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The View From the Weekly Timeframe
At the moment, NZDCAD’s rate is up 0.004 (0.44%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as NZDCAD has now gone up 5 of the past 5 weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 10 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. NZDCAD’s weekly price action over the past 52 weeks can be seen via the chart below.
NZDCAD: The Monthly View
Monthly trend: strongest on the 120 month timeframe.
NZD/CAD Down 0 Pips in Last Hour; Came Into Today Up For the 2nd Consecutive Day
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
NZD/CAD Up 7 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
This imputes a buy/sell ratio of 0.1, which is quite bearish.
NZD/CAD Up 5 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
NZDCAD Up 5 Pips Over Past Hour; in an Uptrend Over Past 30 Days
Compared to its peers in the forex, nzdcad gave its buyers a return that ranked 4th in terms of percentage change since the day prior.
NZDCAD Up 8 Pips On Hourly Chart; in an Uptrend Over Past 30 Days
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
NZDCAD Up 3 Pips Over Past Hour, 4 Day Up Streak Broken; in an Uptrend Over Past 14 Days
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
NZDCAD Down 12 Pips Over Past Hour, Moves Up For the 4th Consecutive Day; in an Uptrend Over Past 30 Days
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
NZDCAD Down 3 Pips in Last Hour, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 90 Days
Compared to its peers in the forex, nzdcad gave its buyers a return that ranked 16th in terms of percentage change since the previous day.
NZDCAD Down 2 Pips Over Past Hour, Moves Up For the 2nd Straight Day; in an Uptrend Over Past 14 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.