Hourly Update

(Last Updated October 3, 2022 1:41 GMT)

At the moment, NZDCHF’s rate is up 19 pips (0.34%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDCHF. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is down 63 pips (1.12%) since the previous day (opening today near 0.55201592), marking the 2nd consecutive day it has gone down. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 34th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.

NZDCHF Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone down 19 them.

The post NZD/CHF Up 19 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Moves Down For the 2nd Consecutive Day appeared first on CFDTrading.