(Last Updated January 5, 2022 1:40 GMT)
At the time of this writing, EURAUD’s rate is down -8 pips (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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)
After 3 up days, EURAUD snaps its streak, falling 117 pips (-0.75%) over the past day to close at an exchange rate of 1.55815. Relative to other instruments in the Forex asset class, EURAUD ranked 38th yesterday in terms of percentage price change. Below is a price chart of EURAUD.
EURAUD Technical Analysis
Coming into today EURAUD is now close to its 20, 50, 100 and 200 day averages, located at 1.571, 1.5725, 1.577 and 1.5842 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 30 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 EURAUD’s price has gone up 6 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on EURAUD, with 8 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 2.67, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
HERE WE CAN BUY IN RANGE trend continue have a good day