Hourly Update

(Last Updated October 28, 2022 1:41 GMT)

Currently, NZDCHF’s rate is down -19 pips (-0.34%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 is up 17 pips (0.3%) since yesterday (opening today near 0.5770245), marking the 3rd straight day an increase has occurred. Compared to its peers in the Forex, NZDCHF gave its buyers a return that ranked 4th in terms of percentage change since yesterday. Here is a price chart of NZDCHF.

NZDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDCHF crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days NZDCHF’s price has gone up 8 them. And for candlestick traders, a special treat: there is a Pin Bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 0 sell signals and 1 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hey traders, in today’s trading session we are monitoring NZDCHF for a buying opportunity around 0.572 zone, once we will receive any bullish confirmation the trade will be executed.Trade safe, Joe.

The post NZD/CHF Down 19 Pips Over Past Hour, Breaks Above 50 Day Average; Pin Bar Pattern Appearing on Chart appeared first on CFDTrading.