EUR/AUD Up 8 Pips in Last 4 Hours, Moves Up For the 4th Day In A Row; Nears 20 Day Moving Average

EUR/AUD 4 Hour Price Update

Updated May 14, 2020 09:10 AM GMT (05:10 AM EST)

EUR/AUD is up 8 pips (0.05%) since the previous 4 hours (opening the current 4 hour candle near 1.6798), marking the 3rd candle in a row an increase has occurred. Compared to its peers in the Forex, EUR/AUD gave its buyers a return that ranked 10th 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 4 pips (0.02%) since the day prior (opening today near 1.67613), marking the 4th day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EUR/AUD ranked 19th the day prior in terms of percentage price change. Below 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 1.6815, 1.7019 and 1.6598 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 54 pips away. The clearest trend exists on the 30 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 down 18 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

We’re seeing some traders come out with interesting conviction on EURAUD, with 27 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 4.5, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel and fibonacci technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price expected to continue the uptrend and has been respecting the channel borders