(Last Updated April 2, 2021 23:17 GMT)
At the moment, EURAUD’s rate is up 2 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning above it. 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 20 pips (0.13%) since yesterday (opening today near 1.54629), marking the 3rd consecutive day it has gone up. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 20th in terms of percentage change since yesterday. Below is a price chart of EURAUD.
EURAUD Technical Analysis
Coming into today EURAUD is now close to its 20, 50 and 100 day averages, located at 1.5424, 1.553 and 1.5785 respectively, and thus may be at a key juncture along those timeframes. 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. For additional context, note that price has gone up 7 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.