EUR/AUD Up 6 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; Nears 50 Day Moving Average

Hourly Update

(Last Updated December 29, 2021 1:43 GMT)

At the time of this writing, EURAUD’s rate is up 6 pips (0.04%) from the hour prior. This is the 2nd straight hour EURAUD has seen its price head up. Regarding the trend, note that the strongest trend exists on the 50 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)

EURAUD entered today at 1.56449, down 10 pips (0.07%) from the previous day. Out of the 39 instruments in the Forex asset class, EURAUD ended up ranking 17th for the day in terms of price change. The price chart of EURAUD below illustrates.

EURAUD

EURAUD Technical Analysis

Notably, EURAUD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 72.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days EURAUD’s price has gone up 7 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 2 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 0.18, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

https://www.tradingview.com/x/4CvyLQn5/ Hello, Friends! EUR/AUD is trading In wayThat I predicted previously And now the pair is retestingA hidden bank’s levelSo I think a bearish move will follow! SELL! ✅LIKE AND COMMENT MY IDEAS✅