EURAUD Down 9 Pips Over Past Hour, in a Downtrend Over Past 30 Days; is Inching Close to 20 Day Average

Hourly Update

(Last Updated November 4, 2021 3:16 GMT)

At the time of this writing, EURAUD’s rate is down -9 pips (-0.06%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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, which opened today priced near 1.55617, is down 13 pips 0.08% since the day prior, marking a reversal from the day prior — and the end of a 3 day positive run. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 26th in terms of percentage change since the day prior. Below is a price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

The first thing we should note is that the current price of EURAUD 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 20 day average, which is 12.4 pips away. 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EURAUD’s price has gone up 5 them.