EUR/AUD Up 21 Pips Over Past 4 Hours, Moves Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

EUR/AUD 4 Hour Price Update

Updated July 31, 2020 05:07 AM GMT (01:07 AM EST)

EUR/AUD entered the current 4 hour candle at 1.6504, up 21 pips (0.13%) from the previous 4 hours. Relative to other instruments in the Forex asset class, EUR/AUD ranked 9th 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 up 30 pips (0.18%) since the previous day (opening today near 1.64959), marking the 3rd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EUR/AUD ranked 5th the previous day in terms of percentage price change. Below is a price chart of EUR/AUD.

EUR/AUD

EUR/AUD Technical Analysis

Coming into today the current price of EUR/AUD is sitting close to its 20, 50, 100 and 200 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 100 day average, which is 83.9 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 14 and 30 day timeframes, where price is headed up. Or to simplify this another way, note that out of the past 30 days EUR/AUD’s price has gone up 18 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 12 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 6, which is very bullish. As for the rationale, technical traders seem to be citing the appearance of demand zone technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.