GBPNZD Up 10 Pips in Last Hour, Underperforms All Forex; in a Downtrend Over Past 14 Days – CFDTrading

Hourly Update

(Last Updated April 15, 2021 3:21 GMT)

Currently, GBPNZD’s rate is up 10 pips (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

GBPNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPNZD is down 184 pips (0.95%) since the day prior (opening today near 1.92915), marking the 2nd consecutive day a decrease has occurred. It may be worth observing that GBPNZD was the worst performer of the 39 members in the Forex asset class over the past day. Let’s take a look at price chart of GBPNZD.

GBPNZD

GBPNZD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPNZD crossed below its 50 and 200 day moving averages 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 200 day average, which is 42.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 and 30 day timeframes, where price is headed up. Or to simplify this another way, note that out of the past 10 days GBPNZD’s price has gone down 6 them.

Leave a Reply

Your email address will not be published. Required fields are marked *