EUR/AUD 4 Hour Price Update
Updated July 21, 2020 09:10 AM GMT (05:10 AM EST)
EUR/AUD is down 66 pips (0.4%) since the previous 4 hours (opening the current 4 hour candle near 1.6231), marking the 6th candle in a row a decrease has occurred. On a relative basis, EUR/AUD was the worst performer out of all 37 of the assets in the Forex asset class.
EUR/AUD End of Day Recap
Updated 00:30 GMT (04:30 EST)
EUR/AUD is down 2 pips (0.01%) since yesterday (opening today near 1.63114), marking the 2nd day in a row a decrease has occurred. Compared to its peers in the Forex, EUR/AUD gave its buyers a return that ranked 30th in terms of percentage change since yesterday. Below is a price chart of EUR/AUD.
EUR/AUD Technical Analysis
Coming into today the current price of EUR/AUD is sitting close to its 20, 50, 100 and 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 50 day average, which is 22.7 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days EUR/AUD’s price has gone up 14 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
The View From Around the Web
Of note is that traders in aggregate have opinions on EURAUD, with 17 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 1.31, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Currently up 5% growth from this pair alone from beginning of July entries….Additional Entry or if you missed first entry:1….Good entry at current price of 1.63002.