EUR/AUD Down 28 Pips Over Past 4 Hours, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

EUR/AUD 4 Hour Price Update

Updated March 27, 2020 09:05 PM GMT (05:05 PM EST)

EUR/AUD is down 28 pips (0.16%) since the previous 4 hours (opening the current 4 hour candle near 1.8019), marking the 2nd candle in a row it has gone down. Compared to its peers in the Forex, EUR/AUD gave its buyers a return that ranked 33rd in terms of percentage change since the previous 4 hours.

EUR/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/AUD, which started today off at 1.8233, up 44 pips 0.24% from the day prior. Compared to its peers in the Forex, EUR/AUD gave its buyers a return that ranked 6th in terms of percentage change since the day prior. The price chart of EUR/AUD below illustrates.

EUR/AUD Technical Analysis

The first thing we should note is that EUR/AUD is now close to its 20 day averages, located at 1.7951 respectively, and thus may be at a key juncture along those timeframes. 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. 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 up 8 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

We’re seeing some traders come out with interesting conviction on EURAUD, with 10 buy signals on our radar and 20 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. 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.

To me, it looks as if the price may push another leg downward if the price breaks this triangle correction