EUR/AUD Down 34 Pips in Last 4 Hours, Moves Down For the 5th Day In A Row; Pin Bar Pattern Appearing on Chart

EUR/AUD 4 Hour Price Update

Updated June 03, 2020 01:20 AM GMT (09:20 PM EST)

EUR/AUD is down 34 pips (0.21%) since the last 4 hour candle (opening the current 4 hour candle near 1.6175), marking the 5th candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EUR/AUD ranked 35th the last 4 hour candle in terms of percentage price change.

EUR/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/AUD is down 26 pips (0.16%) since the previous day (opening today near 1.6169), marking the 5th day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EUR/AUD ranked 37th the previous day in terms of percentage price change. The price chart of EUR/AUD below illustrates.

EUR/AUD Technical Analysis

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 457.3 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. For additional context, note that price has gone down 9 out of the past 14 days. 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

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. As for the rationale, technical traders seem to be citing the appearance of fibonacci, trendline and wedge technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hi,EURAUD moved 431 pips to the downside my previous analyses H1 https://www.tradingview.com/x/JJ5Qt127/ H4 https://www.tradingview.com/x/JJ5Qt127/now it is on a trend-line it touched three times, i am expecting two things:-first: the way candles come to the trendline was a big implusive movement that indicates price will keep falling down check this candles https://www.tradingview.com/x/0eXypZzt/second: after it made a three touch that also indicates the price will reverse to the upside (as it formed falling wedge) if selling candles become smaller and smaller that indicates buying preasure to the upside….check this https://www.tradingview.com/x/2G3d3lev/that based on my opinion Thank you