EUR/AUD Up 53 Pips On 4 Hour Chart, Came Into Today Up For the 3rd Day In A Row; in a Downtrend Over Past 30 Days

EUR/AUD 4 Hour Price Update

Updated May 13, 2020 01:11 AM GMT (09:11 PM EST)

EUR/AUD is up 53 pips (0.32%) since the previous 4 hours (opening the current 4 hour candle near 1.6797), marking the 3rd candle in a row it has gone up. Compared to its peers in the Forex, EUR/AUD gave its buyers a return that ranked 2nd in terms of percentage change since the previous 4 hours.

EUR/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/AUD is up 27 pips (0.16%) since the day prior (opening today near 1.67823), marking the 3rd day in a row an upward move has occurred. Out of the 40 instruments in the Forex asset class, EUR/AUD ended up ranking 3rd for the day in terms of price change. Here is a price chart of EUR/AUD.

EUR/AUD Technical Analysis

Coming into today EUR/AUD is now close to its 20, 100 and 200 day averages, located at 1.6843, 1.7013 and 1.6595 respectively, and thus may be at a key juncture along those timeframes. 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 60.3 pips away. 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 EUR/AUD’s price has gone down 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURAUD, with 18 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 2.25, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel, double top, fibonacci, relative strength index and trendline technical patterns. Here’s a piece we found on; below is a short snippet from it to give you a taste.

Hello traders,EURAUD did not show us a strong support on weekly chart yet….But we are now thinking about a possible support on wk chart….On daily chart, we found a hidden RSI DIV for this pair.