EUR/AUD Down 30 Pips Over Past 4 Hours, Moves Up For the 2nd Day In A Row; in a Downtrend Over Past 90 Days

EUR/AUD 4 Hour Price Update

Updated June 29, 2020 09:11 PM GMT (05:11 PM EST)

The choppiness in the recent four-hour candle price action of EUR/AUD continues; to start the current 4 hour candle, it came in at a price of 1.6368, down 30 pips (0.18%) since the last 4 hour candle. Compared to its peers in the Forex, EUR/AUD gave its buyers a return that ranked 33rd in terms of percentage change since the last 4 hour candle.

EUR/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/AUD is up 4 pips (0.02%) since the day prior (opening today near 1.63433), marking the 2nd day in a row an upward move has occurred. Compared to its peers in the Forex, EUR/AUD gave its buyers a return that ranked 22nd in terms of percentage change since the day prior. Below is a price chart of EUR/AUD.

EUR/AUD Technical Analysis

The first thing we should note is that EUR/AUD is now close to its 20, 50 and 200 day averages, located at 1.6317, 1.6532 and 1.664 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 26.3 pips away. Volatility for EUR/AUD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. Or to simplify this another way, note that out of the past 10 days EUR/AUD’s price has gone up 5 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

We’re seeing some traders come out with interesting conviction on EURAUD, with 22 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 2, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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