EURAUD Up 16 Pips in Last Hour; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 12, 2020 22:17 GMT)

At the time of this writing, EURAUD’s rate is up 16 pips (0.1%) from the hour prior. EURAUD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, so that price is now turning above it. 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)

The back and forth price flow continues for EURAUD, which started today off at 1.61747, down 38 pips 0.23% from the day prior. Relative to other instruments in the Forex asset class, EURAUD ranked 32nd the day prior in terms of percentage price change. Below is a price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, EURAUD is now close to its 20, 50 and 100 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 100 day average, which is 200.3 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 down 10 them.