EURAUD Up 14 Pips On Hourly Chart; Entered Today Up For the 5th Consecutive Day

Hourly Update

(Last Updated October 19, 2020 10:16 GMT)

Currently, EURAUD’s rate is up 14 pips (0.08%) from the hour prior. The hourly chart shows that EURAUD has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them so that price is now turning above them. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURAUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURAUD is up 44 pips (0.27%) since the day prior (opening today near 1.65414), marking the 5th consecutive day it has gone up. Out of the 40 instruments in the Forex asset class, EURAUD ended up ranking 4th for the day in terms of price change. Below is a price chart of EURAUD.


EURAUD Technical Analysis

The first thing we should note is that EURAUD is now close to its 20, 50, 100 and 200 day averages, located at 1.6426, 1.6366, 1.6345 and 1.6638 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 200 day average, which is 96.6 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days EURAUD’s price has gone up 17 them.