EURUSD Down 1 Pips Over Past Hour, 3 Day Down Streak Ended; Nears 20 and 50 Day Moving Averages

Hourly Update

(Last Updated September 10, 2021 2:19 GMT)

Currently, EURUSD’s rate is down -1 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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)

A moment of silence, please, for the end of EURUSD’s 3 day down streak; price ended yesterday up 6 pips (0.05%) to finish the day at a rate of 1.1824. Relative to other instruments in the Forex asset class, EURUSD ranked 10th yesterday in terms of percentage price change. Here is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Notably, the current price of EURUSD is sitting close to its 20, 50, 100 and 200 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 90 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 14 and 30 day timeframes, where price is headed up. Or to simplify this another way, note that out of the past 10 days EURUSD’s price has gone up 6 them.