EURAUD Up 6 Pips Over Past Hour, 3 Day Up Streak Ended; Eyes 20 Day Average

Hourly Update

(Last Updated November 5, 2021 22:16 GMT)

At the moment, EURAUD’s rate is up 6 pips (0.04%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as EURAUD has now gone up 5 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)

A moment of silence, please, for the end of EURAUD’s 3 day up streak; price ended the previous day down 13 pips (-0.08%) to finish the day at a rate of 1.55617. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 26th in terms of percentage change since the previous day. Here is a price chart of EURAUD.


EURAUD Technical Analysis

Notably, EURAUD is now close to its 20, 50, 100 and 200 day averages, located at 1.5549, 1.5839, 1.5946 and 1.5786 respectively, and thus may be at a key juncture along those timeframes. 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 30 days EURAUD’s price has gone down 17 them.