EUR/AUD Up 13 Pips On 4 Hour Chart, 3 Day Up Streak Ended; is Inching Close to 100 Day Average

EUR/AUD 4 Hour Price Update

Updated August 03, 2020 05:07 AM GMT (01:07 AM EST)

After 3 down four-hour candles, EUR/AUD snaps its streak, rising 13 pips (0.08%) over the past four-hour candle to close at an exchange rate of 1.6498. Relative to other instruments in the Forex asset class, EUR/AUD ranked 8th the last 4 hour candle in terms of percentage price change.

EUR/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/AUD, which opened today priced near 1.64865, is down 0 pips 0% since yesterday, marking NA — and the end of a 3 day positive run. Relative to other instruments in the Forex asset class, EUR/AUD ranked 23rd yesterday in terms of percentage price change. Here is a price chart of EUR/AUD.

EUR/AUD

EUR/AUD Technical Analysis

Notably, EUR/AUD 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 100 day average, which is 81.5 pips away. 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 10 days EUR/AUD’s price has gone up 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURAUD, with 12 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 3, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel and flag technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Please see my past ideas on EURAUD, this is a pair I will be buying up for the next few weeks….Weekly RSI in buy zone2….Bottom of Flag for aggressive entry2.