EURAUD Up 8 Pips On Hourly Chart, 2 Day Down Streak Broken; Breaks Above 20 Day Average

Hourly Update

(Last Updated April 28, 2021 2:17 GMT)

At the moment, EURAUD’s rate is up 8 pips (0.05%) from the hour prior. This is the 2nd straight hour EURAUD has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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 entered today at 1.55627, up 73 pips (0.47%) from yesterday. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 8th in terms of percentage change since yesterday. Here is a price chart of EURAUD.


EURAUD Technical Analysis

First things first: EURAUD crossed above its 20 day moving average 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 14.6 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days EURAUD’s price has gone up 18 them.