EURAUD Up 5 Pips in Last Hour, Moves Down For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated February 25, 2021 0:19 GMT)

At the moment, EURAUD’s rate is up 5 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURAUD. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURAUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURAUD is down 2 pips (0.01%) since the day prior (opening today near 1.53605), marking the 3rd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EURAUD ranked 24th the day prior in terms of percentage price change. Here is a price chart of EURAUD.

EURAUD

EURAUD Technical Analysis

Notably, the current price of EURAUD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!