EUR/AUD Up 112 Pips On 4 Hour Chart, Entered Today Down For the 6th Day In A Row; Pin Bar Pattern Appearing on Chart

EUR/AUD 4 Hour Price Update

Updated March 25, 2020 01:40 PM GMT (09:40 AM EST)

A moment of silence, please, for the end of EUR/AUD’s 5 four-hour candle down streak; price ended the previous 4 hours up 112 pips (0.63%) to finish the four-hour candle at a rate of 1.8012. Relative to other instruments in the Forex asset class, EUR/AUD ranked 7th the previous 4 hours in terms of percentage price change.

EUR/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/AUD is down 10 pips (0.06%) since the previous day (opening today near 1.8093), marking the 6th day in a row a decline has happened. Relative to other instruments in the Forex asset class, EUR/AUD ranked 30th the previous day in terms of percentage price change. Here is a price chart of EUR/AUD.

EUR/AUD Technical Analysis

Notably, the current price of EUR/AUD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 6 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURAUD, with 9 buy signals on our radar and 31 sell signals. This imputes a buy/sell ratio of 0.29, which is bearish. As for the rationale, technical traders seem to be citing the appearance of divergence and wedge technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Rising wedge, RSI divergence, go short !!