Hourly Update

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

Currently, NZDCAD’s rate is up 11 pips (0.13%) 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.

NZDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDCAD is up 113 pips (1.38%) since the previous day (opening today near 0.83270187), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, NZDCAD gave its buyers a return that ranked 4th in terms of percentage change since the previous day. Here is a price chart of NZDCAD.

NZDCAD Technical Analysis

The first thing we should note is that the current price of NZDCAD is sitting close to its 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 144.5 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 10 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCAD; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Pair Name : NZDCADTimeFrame : DailyDirection : LongType : SwingTarget Range : 200 Pips(TP/UP +175 Pips) Expecting 200 Pips————————————————————————-Neat and clean chart with clear setup, no junk on chart.————————————————————————-If you like this idea, then smash like button and follow us for regular updates.————————————————————————-Note:- Do you own due diligence before taking any trades.Thanks

The post NZD/CAD Up 11 Pips On Hourly Chart, Entered Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days appeared first on CFDTrading.