EURUSD Up 2 Pips On Hourly Chart, Entered Today Up For the 5th Day In A Row; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated September 6, 2021 23:19 GMT)

Currently, EURUSD’s rate is up 2 pips (0.02%) from the hour prior. The hourly chart shows that EURUSD has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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 up 7 pips (0.06%) since yesterday (opening today near 1.18857), marking the 5th day in a row it has gone up. Out of the 39 instruments in the Forex asset class, EURUSD ended up ranking 18th for the day in terms of price change. Let’s take a look at price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

The first thing we should note is that EURUSD is now close to its 20, 50, 100 and 200 day averages, located at 1.1778, 1.1798, 1.1931 and 1.1972 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 10 days EURUSD’s price has gone up 8 them. Also, candlestick traders! Note we see doji pattern appearing here as well.