EUR/AUD Down 0 Pips in Last 4 Hours, 2 Day Up Streak Snapped; Pin Bar Pattern Appearing on Chart

EUR/AUD 4 Hour Price Update

Updated July 24, 2020 09:09 PM GMT (05:09 PM EST)

The back and forth price flow continues for EUR/AUD, which started the current 4 hour candle off at 1.6403, down 0 pips 0% from the last 4 hour candle. Relative to other instruments in the Forex asset class, EUR/AUD ranked 21st the last 4 hour candle in terms of percentage price change.

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 1.63294, down 7 pips 0.04% from the previous day. Compared to its peers in the Forex, EUR/AUD gave its buyers a return that ranked 30th in terms of percentage change since the previous day. 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 50 day average, which is 16 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days EUR/AUD’s price has gone up 15 them. 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

Of note is that traders in aggregate have opinions on EURAUD, with 18 buy signals on our radar and 26 sell signals. This imputes a buy/sell ratio of 0.69, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

I only saw all its splendor in the universe, and if it is applicable to the universe, also to trading, because the market reveals human nature, which in turn reveals the golden number”….but, now I’m turning serious….but, I’m here now for breaking the market as always.