EUR/AUD Down 0 Pips Over Past Hour, Entered Today Up For the 3rd Consecutive Day; is Inching Close to 20 Day Average

Hourly Update

(Last Updated November 19, 2021 1:40 GMT)

At the moment, EURAUD’s rate is down 0 pips (0%) from the hour prior. EURAUD has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURAUD. Given that we see an uptrend on the 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 5 hourly candle timeframe, so the meaning of the candles may require further exploration. 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.

EURAUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURAUD is up 50 pips (0.32%) since the day prior (opening today near 1.5622), marking the 3rd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, EURAUD ranked 16th the day prior in terms of percentage price change. Below is a price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

The first thing we should note is that EURAUD is now close to its 20, 50, 100 and 200 day averages, located at 1.5559, 1.5712, 1.5903 and 1.5798 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 62.6 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days EURAUD’s price has gone up 9 them.