Hourly Update

(Last Updated November 2, 2022 1:42 GMT)

At the time of this writing, NZDCHF’s rate is up 5 Pips (0.09%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 20 pips (0.35%) since the previous day (opening today near 0.58398318), marking the 6th day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 4th for the day in terms of price change. Below is a price chart of NZDCHF.

NZDCHF Technical Analysis

The first thing we should note is that NZDCHF is now close to its 50 and 100 day averages, located at 0.5748 and 0.5884 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. 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 9 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

Of note is that traders in aggregate have opinions on NZDCHF, with 4 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 0.67, which is bearish. 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 0.582 zone, once we will receive any bullish confirmation the trade will be executed.Trade safe. Joe.

The post NZD/CHF Up 5 Pips Over Past Hour, Moves Up For the 6th Day In A Row; in an Uptrend Over Past 14 Days appeared first on CFDTrading.