Hourly Update
(Last Updated August 18, 2022 2:21 GMT)
At the time of this writing, NZDCHF’s rate is down -5 pips (-0.08%) from the hour prior. It’s been a feast for bears operating on an Hourly timeframe, as Nzdchf has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly 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 End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDCHF entered today at 0.5976048, down 45 pips (0.75%) from the day prior. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 35th for the day in terms of price change. The price chart of NZDCHF below illustrates.
NZDCHF Technical Analysis
Notably, NZDCHF crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 5 out of the past 10 days.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on NZDCHF, with 2 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 0.33, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Pair Name : NZD/CHFTime Frame : 4hrsScale Type : Large Scale Analysis Way : Volume + Classic + High & low + Market Map Direction : / Short Educational —————**- Update – VIP Opportunity ————Down + 30 PIP.Target Hit ( 1 )+ 5 % Account Growth\
The post NZD/CHF Down 5 Pips On Hourly Chart, Makes Big Move Relative to Past Month; in a Downtrend Over Past 90 Days appeared first on CFDTrading.
This post first appeared on Complete CFD Trading Guide, News And Analysis, please read the originial post: here