(Last Updated March 31, 2021 0:18 GMT)
Currently, EURAUD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURAUD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)
The choppiness in the recent daily price action of EURAUD continues; to start today, it came in at a price of 1.54084, down 24 pips (0.16%) since the day prior. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 30th in terms of percentage change since the day prior. Here is a price chart of EURAUD.
EURAUD Technical Analysis
Coming into today the current price of EURAUD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 17 out of the past 30 days.