EURAUD Down 0 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated October 14, 2020 2:16 GMT)

At the moment, EURAUD’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURAUD has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 is up 10 pips (0.06%) since the previous day (opening today near 1.6392), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, EURAUD gave its buyers a return that ranked 16th in terms of percentage change since the previous day. Below is a price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, EURAUD is now close to its 20, 50, 100 and 200 day averages, located at 1.6385, 1.6365, 1.635 and 1.6633 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 7.2 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 16 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.