EUR/AUD Down 6 Pips in Last Hour, Crosses 100 Day Moving Average; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 16, 2022 1:39 GMT)

At the moment, EURAUD’s rate is down -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 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURAUD. Given that we see an uptrend on the 20 and 10 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 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 1.4924, up 132 pips (0.89%) from yesterday. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 2nd in terms of percentage change since yesterday. Let’s take a look at price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, EURAUD crossed above its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 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. Or to simplify this another way, note that out of the past 14 days EURAUD’s price has gone up 9 them.