(Last Updated June 10, 2021 18:19 GMT)
At the time of this writing, EURAUD’s rate is down -7 pips (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURAUD has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 24 pips (0.15%) since the day prior (opening today near 1.57561), marking the 2nd straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, EURAUD ended up ranking 9th for the day in terms of price change. Here is a price chart of EURAUD.
EURAUD Technical Analysis
Coming into today EURAUD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 1.2 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. Volatility for EURAUD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.