EUR/AUD Up 2 Pips On Hourly Chart, 3 Day Up Streak Ended; Crosses 20 and 200 Day Moving Averages

Hourly Update

(Last Updated December 16, 2021 1:39 GMT)

At the moment, EURAUD’s rate is up 2 pips (0.01%) from the hour prior. This is the 3rd consecutive hour EURAUD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURAUD. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

EURAUD, which opened today priced near 1.57555, is down 88 pips 0.56% since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 32nd in terms of percentage change since the previous day. Below is a price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, EURAUD crossed below its 20 and 200 day moving averages yesterday. 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 200 day average, which is 74.2 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days EURAUD’s price has gone down 6 them.