Hourly Update

(Last Updated October 21, 2022 1:42 GMT)

At the moment, NZDCHF’s rate is down -7 pips (-0.12%) from the hour prior. It’s been a feast for bears operating on an Hourly timeframe, as Nzdchf has now gone down 8 of the past 10 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 an uptrend on the 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration. 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 7 pips (0.12%) since yesterday (opening today near 0.5699312), marking the 4th straight day an increase has occurred. Relative to other instruments in the Forex asset class, NZDCHF ranked 21st yesterday in terms of percentage price change. Let’s take a look at price chart of NZDCHF.

NZDCHF Technical Analysis

Notably, the current price of NZDCHF is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 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 17 them. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!

The View From Around the Web

Not much commentary on NZDCHF that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

This Is An Educational + Analytic Content That Will Teach Why And How To Enter A TradeMake Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our MethodDisclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.

The post NZD/CHF Down 7 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Entered Today Up For the 4th Straight Day appeared first on CFDTrading.