EUR/USD Down 0 Pips in Last Hour, Fares the Worst Out of Forex; Moves Down For the 5th Straight Day

Hourly Update

(Last Updated April 28, 2022 1:42 GMT)

At the moment, EURUSD’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURUSD has now gone down 5 of the past 5 hours. 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 pin bar candlestick pattern on EURUSD. Given that we see downtrend on the 20 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 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.

EURUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURUSD is down 93 pips (0.87%) since the previous day (opening today near 1.05527), marking the 5th straight day a decrease has occurred. It may be worth observing that EURUSD was the worst performer of the 39 members in the Forex asset class over the past day. Let’s take a look at price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days EURUSD’s price has gone down 20 them.