EURUSD Down 5 Pips On Hourly Chart, 3 Day Up Streak Broken; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated January 1, 2021 3:20 GMT)

At the moment, EURUSD’s rate is down -5 pips (-0.04%) from the hour prior. EURUSD has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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.

EURUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 up days, EURUSD snaps its streak, falling 77 pips (-0.63%) over the past day to close at an exchange rate of 1.22157. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 37th in terms of percentage change since yesterday. Here is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Coming into today EURUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Volatility for EURUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. For additional context, note that price has gone up 16 out of the past 30 days.