EURUSD Up 15 Pips in Last Hour; Crosses 20 Day Moving Average

Hourly Update

(Last Updated November 5, 2021 23:25 GMT)

At the time of this writing, EURUSD’s rate is up 15 pips (0.13%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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)

The choppiness in the recent daily price action of EURUSD continues; to start today, it came in at a price of 1.16134, up 35 pips (0.3%) since the day prior. Relative to other instruments in the Forex asset class, EURUSD ranked 14th the day prior in terms of percentage price change. The price chart of EURUSD below illustrates.

EURUSD

EURUSD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURUSD crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days EURUSD’s price has gone up 7 them.