EURUSD Down 1 Pips On Hourly Chart, Entered Today Down For the 4th Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 15, 2021 18:18 GMT)

At the time of this writing, EURUSD’s rate is down -1 pips (-0.01%) from the hour prior. EURUSD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURUSD. Given that we see downtrend on the 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 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 2 pips (0.02%) since the previous day (opening today near 1.14413), marking the 4th day in a row a decline has happened. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 28th in terms of percentage change since the previous day. Below is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

The first thing we should note is that the current price of EURUSD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days EURUSD’s price has gone down 8 them.