EURAUD Down 9 Pips On Hourly Chart, 4 Day Up Streak Broken; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated April 22, 2021 2:18 GMT)

Currently, EURAUD’s rate is down -9 pips (-0.06%) from the hour prior. This is the 2nd hour in a row EURAUD has seen its price head down. 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 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)

A moment of silence, please, for the end of EURAUD’s 4 day up streak; price ended the previous day down 57 pips (-0.37%) to finish the day at a rate of 1.55222. Relative to other instruments in the Forex asset class, EURAUD ranked 29th the previous day in terms of percentage price change. Here is a price chart of EURAUD.


EURAUD Technical Analysis

Coming into today the current price of EURAUD is sitting close to its 20, 50 and 100 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 6.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. For additional context, note that price has gone up 9 out of the past 14 days. 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

Not much in terms quality buy/sell signals we’re seeing for EURAUD; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on; below is a short snippet from it to give you a taste.

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