EUR/AUD Down 4 Pips Over Past Hour, in a Downtrend Over Past 90 Days; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated November 17, 2021 1:46 GMT)

At the time of this writing, EURAUD’s rate is down -4 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend 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)

The back and forth price flow continues for EURAUD, which started today off at 1.54979, up 28 pips 0.18% from yesterday. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 19th in terms of percentage change since yesterday. Let’s take a look at price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, the current price of EURAUD is sitting close to its 20, 50 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 49.1 pips away. It should be noted, though, the 200 day simple moving average turned upwards, which may be a bullish sign. 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. Or to simplify this another way, note that out of the past 30 days EURAUD’s price has gone up 16 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on EURAUD, with 11 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 2.75, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price could move upwards for one more push towards the EMA Price could breakout from the LTF correction instead of moving upwards SELL order placed