Hourly Update

(Last Updated October 12, 2022 1:51 GMT)

At the moment, NZDCHF’s rate is up 1 Pips (0.02%) from the hour prior. This is the 3rd hour in a row Nzdchf has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 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, which opened today priced near 0.55641376, is up 0 pips 0.01% since the day prior, marking a reversal from the day prior — and the end of a 3 day negative run. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 18th for the day in terms of price change. Here is a price chart of NZDCHF.

NZDCHF Technical Analysis

Coming into today the current price of NZDCHF is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for NZDCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days NZDCHF’s price has gone down 21 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCHF, with 1 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.2, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hello traders! This is my analysis on NZDCHF . Here we are in a strong bearish market structure, I expect price to fill the imbalance above and to reject from bearish orderblock. My target is sell side liquidity around price level 0.55000.Like, comment and subscribe to be in touch with my content!

The post NZD/CHF Up 1 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Sentiment Strongly Favors Sellers appeared first on CFDTrading.