(Last Updated November 16, 2021 1:45 GMT)
At the moment, EURAUD’s rate is down -1 pips (-0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURAUD has now gone down 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 entered today at 1.547, down 137 pips (0.88%) from the day prior. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 38th in terms of percentage change since the day prior. Let’s take a look at price chart of EURAUD.
EURAUD Technical Analysis
Notably, EURAUD crossed below its 20 day moving average 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 20 day average, which is 81.5 pips away. It should be noted, though, the 20 and 200 day simple moving averages turned downwards, which may be a bearish sign. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days EURAUD’s price has gone up 9 them.