EUR/AUD Down 6 Pips Over Past 4 Hours, Tops All Forex; in an Uptrend Over Past 90 Days

EUR/AUD 4 Hour Price Update

Updated March 26, 2020 05:08 AM GMT (01:08 AM EST)

A moment of silence, please, for the end of EUR/AUD’s 4 four-hour candle up streak; price ended the previous 4 hours down 6 pips (-0.03%) to finish the four-hour candle at a rate of 1.8442. Compared to its peers in the Forex, EUR/AUD gave its buyers a return that ranked 28th in terms of percentage change since the previous 4 hours.

EUR/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of EUR/AUD’s 6 day down streak; price ended the day prior up 358 pips (1.98%) to finish the day at a rate of 1.8451. EUR/AUD outperformed all 40 assets in the Forex asset class the day prior. Congrats to its holders! Below is a price chart of EUR/AUD.

EUR/AUD Technical Analysis

Volatility for EUR/AUD 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 up over that time. For additional context, note that price has gone down 6 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURAUD, with 8 buy signals on our radar and 20 sell signals. This imputes a buy/sell ratio of 0.4, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Bearish Shark @ QPRSI is divergent and shows overbought