NZDCAD Down 9 Pips On Hourly Chart, Makes Big Move Relative to Past Two Months; 2 Day Down Streak Broken
And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well.
NZDCAD
(Last Updated April 15, 2021)
Hello! This is the news page for NZDCAD. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for NZDCAD
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Canada Manufacturing Sales MoM | Feb 2021 | Canadian Dollar | CAD | 2021-04-15 | 12:30 GMT | -1% | -1.6% |
| New Zealand Business NZ PMI | Mar 2021 | New Zealand Dollar | NZD | 2021-04-15 | 22:30 GMT | ||
| Canada Housing Starts | Mar 2021 | Canadian Dollar | CAD | 2021-04-16 | 12:15 GMT | 250K |
The Trend
A trend/countertrend situation exists on NZDCAD, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
NZDCAD Moving Averages
NZDCAD’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bearish, implying a downward trend, aside from a jump about 6 months prior.
Below is a chart showing NZDCAD’s price with its moving averages.
Regarding NZDCAD’s correlations over the past 7 days, it has been most correlated with USDZAR. Over the past 14 days, however, AUDUSD is the asset most correlated to NZDCAD. Alternatively, GBPAUD has been the asset least correlated with NZDCAD — but if we observe the prior two weeks, the asset least correlated with NZDCAD has been GBPUSD. The chart below illustrates NZDCAD against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, NZDCAD’s rate is up 127 pips (1.44%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as NZDCAD has now gone up 4 of the past 5 weeks. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. 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. 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 24 month timeframe.
NZDCAD Up 4 Pips in Last Hour, Makes Big Move Relative to Past Two Months; 2 Day Down Streak Snapped
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
NZDCAD Up 1 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 20 and 50 Day Averages
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.
NZDCAD Down 6 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Came Into Today Down For the 2nd Day In A Row
Compared to its peers in the forex, nzdcad gave its buyers a return that ranked 37th in terms of percentage change since yesterday.
NZDCAD Up 1 Pips in Last Hour, in an Uptrend Over Past 30 Days; Eyes 20 and 100 Day Averages
The closest is the 100 day average, which is 34.3 pips away.
NZDCAD Up 1 Pips in Last Hour, 2 Day Down Streak Broken; Pin Bar Pattern Appearing on Chart
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.
NZDCAD Up 1 Pips Over Past Hour, Makes Big Move Relative to Past Three Months; Entered Today Down For the 2nd Day In A Row
Compared to its peers in the forex, nzdcad gave its buyers a return that ranked 28th in terms of percentage change since the day prior.
NZD/CAD Down 3 Pips On Hourly Chart, Makes Big Move Relative to Past Two Months; Entered Today Up For the 4th Straight Day
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
NZDCAD Down 2 Pips Over Past Hour, Moves Up For the 3rd Consecutive Day; Breaks Above 100 Day Average
Relative to other instruments in the forex asset class, nzdcad ranked 16th the previous day in terms of percentage price change.
NZDCAD Up 2 Pips in Last Hour, Moves Up For the 3rd Consecutive Day; Breaks Above 100 Day Average
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.