EUR/AUD Down 1 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; is Inching Close to 50 Day Average

Hourly Update

(Last Updated September 13, 2022 1:39 GMT)

Currently, EURAUD’s rate is down -1 pips (-0.01%) from the hour prior. EURAUD has seen its price go down 4 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 20 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 1.4695, up 17 pips (0.12%) from the previous day. Relative to other instruments in the Forex asset class, EURAUD ranked 20th the previous day in terms of percentage price change. Below is a price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Coming into today EURAUD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 14 days EURAUD’s price has gone up 9 them.