Hourly Update

(Last Updated October 19, 2022 1:43 GMT)

At the time of this writing, NZDCHF’s rate is down 0 pips (0%) from the hour prior. Nzdchf has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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 is up 38 pips (0.68%) since the previous day (opening today near 0.56504644), marking the 2nd straight day an increase has occurred. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 6th in terms of percentage change since the previous day. Below is a price chart of NZDCHF.

NZDCHF Technical Analysis

The first thing we should note is that 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 10 days NZDCHF’s price has gone up 6 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on NZDCHF, with 0 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 0, 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.

Hi traders, NZDCHF is setting up for a downside move i am expecting from price to come around our mentioned pattern completion area and looking price action on the top for a short position opportunity, if price drop from the current area and break 0.55091 level without hiting our mentioned entry level then this setup will be invalidate.If you are taking this trade so please i request you trade with your according strategy do not depend on my analysis, this analysis is just a scenario and i would love to be wrong GOOD LUCK.

The post NZD/CHF Down 0 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Moves Up For the 2nd Straight Day appeared first on CFDTrading.