Home Forex NZD/USD Down 13 Pips On 4 Hour Chart, Moves Down For the 3rd Day In A Row; Crosses 20 Day Moving Average

NZD/USD Down 13 Pips On 4 Hour Chart, Moves Down For the 3rd Day In A Row; Crosses 20 Day Moving Average

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NZD/USD 4 Hour Price Update

Updated April 01, 2020 12:52 AM GMT (08:52 PM EST)

The back and forth price flow continues for NZD/USD, which started the current 4 hour candle off at 0.5949, down 13 pips 0.22% from the last 4 hour candle. Relative to other instruments in the Forex asset class, NZD/USD ranked 35th the last 4 hour candle in terms of percentage price change.

NZD/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/USD is down 12 pips (0.2%) since the previous day (opening today near 0.5949), marking the 3rd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, NZD/USD ranked 36th the previous day in terms of percentage price change. Let’s take a look at price chart of NZD/USD.

NZD/USD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZD/USD crossed below its 20 day moving average yesterday. 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. The closest is the 20 day average, which is 4.6 pips away. 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. Interestingly, a trend in the other direction exists on the 90 and 30 day timeframes, where price is headed down. For additional context, note that price has gone up 15 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDUSD, with 4 buy signals on our radar and 14 sell signals. This imputes a buy/sell ratio of 0.29, which is bearish. As for the rationale, technical traders seem to be citing the appearance of channel, gartley and trendline technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price broke the channel and pulled back to it. Seems that It’s going down to last bottom price. Looks like a good opportunity for selling with good risk/reward ratio.

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