EURAUD Up 43 Pips Over Past Hour, 3 Day Down Streak Snapped; Breaks Above 20, 50 and 100 Day Averages

Hourly Update

(Last Updated October 13, 2020 2:16 GMT)

Currently, EURAUD’s rate is up 43 pips (0.26%) from the hour prior. EURAUD has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 and 200 hour moving averages have been crossed, so that price is now turning above them. 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, which opened today priced near 1.63821, is up 50 pips 0.3% since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. Relative to other instruments in the Forex asset class, EURAUD ranked 7th the previous day in terms of percentage price change. Below is a price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

First things first: EURAUD crossed above its 20, 50 and 100 day moving averages yesterday. 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 5.7 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days EURAUD’s price has gone up 15 them.