Hourly Update

(Last Updated November 24, 2022 1:43 GMT)

At the moment, NZDCHF’s rate is up 4 Pips (0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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)

The choppiness in the recent daily price action of NZDCHF continues; to start today, it came in at a price of 0.58783725, up 33 pips (0.57%) since the day prior. Out of the 39 instruments in the Forex asset class, NZDCHF ended up ranking 10th for the day in terms of price change. Let’s take a look at price chart of NZDCHF.

NZDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZDCHF crossed above its 100 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 100 day average, which is 28.2 pips away. Trend traders will want to observe that the strongest trend appears on the 30 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 14 days NZDCHF’s price has gone up 8 them. And for candlestick traders, a special treat: there is a morning star pattern showing up on the charts as well. Rejoice!

The post NZD/CHF Up 4 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 90 Days appeared first on CFDTrading.