EUR/AUD Up 27 Pips in Last Hour; Eyes 100 and 200 Day Averages

Hourly Update

(Last Updated December 20, 2021 1:38 GMT)

At the moment, EURAUD’s rate is up 27 pips (0.17%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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)

The back and forth price flow continues for EURAUD, which started today off at 1.57847, up 16 pips 0.1% from the day prior. Out of the 39 instruments in the Forex asset class, EURAUD ended up ranking 12th for the day in terms of price change. Let’s take a look at price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, EURAUD is now close to its 20, 50, 100 and 200 day averages, located at 1.5865, 1.5682, 1.5826 and 1.5833 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 100 day average, which is 41.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. For additional context, note that price has gone up 16 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURAUD; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Possible head & shoulder pattern on the 1H timeframe. Something to keep an eye on during the start of the week.