NZDCAD Up 4 Pips On Hourly Chart; Moves Up For the 2nd Day In A Row

1 min read

Hourly Update (Last Updated January 7, 2021 9:22 GMT) At the moment, NZDCAD’s rate is up 4 pips (0.05%) from the hour prior. NZDCAD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the…

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