NZD/CHF Down 0 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Eyes 20 Day Average
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
(Last Updated January 18, 2021)
Welcome to the news page for NZDCHF (NZDCHF). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
---|---|---|---|---|---|---|---|
New Zealand NZIER Capacity Utilization | Q4 2020 | New Zealand Dollar | NZD | 2021-01-18 | 21:00 GMT | ||
New Zealand NZIER Business Confidence | Q4 2020 | New Zealand Dollar | NZD | 2021-01-18 | 21:00 GMT | ||
New Zealand Electronic Retail Card Spending YoY | Dec 2020 | New Zealand Dollar | NZD | 2021-01-18 | 21:45 GMT | ||
New Zealand Electronic Retail Card Spending MoM | Dec 2020 | New Zealand Dollar | NZD | 2021-01-18 | 21:45 GMT | ||
New Zealand Business NZ PMI | Dec 2020 | New Zealand Dollar | NZD | 2021-01-21 | 21:30 GMT |
If we observe the 90, 30 and 14 day timeframes, we see an uptrend in place for NZDCHF.
The moving averages on NZDCHF indicate a trend that is clearly bullish.
The chart below illustrates.
Regarding NZDCHF’s correlations over the past 7 days, it has demonstrated the strongest correlation with NZDJPY. NZDJPY is the asset with which NZDCHF has been most correlated with over the past two weeks as well, so this may be a structural correlation in the market. Alternatively, the asset least correlated with NZDCHF over the past week has been ZARJPY, but if we observe the prior two weeks, EURUSD has been the asset least correlated with NZDCHF. The chart below illustrates NZDCHF against its least correlated assets.
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At the moment, NZDCHF’s rate is down -61 pips (-0.95%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as NZDCHF has now gone up 4 of the past 5 weeks. Regarding the trend, note that the strongest trend exists on the 20 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. NZDCHF’s weekly price action over the past 52 weeks can be seen via the chart below.
Strongest trend on the 60 month timeframe.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Bulls may note that this suggests a buy/sell ratio that is infinite.
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
This is the 3rd straight hour nzdchf has seen its price head up.
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.
Compared to its peers in the forex, nzdchf gave its buyers a return that ranked 33rd in terms of percentage change since the day prior.
Price action traders may also wish to note that we see a pin bar candlestick pattern on nzdchf.