EURUSD Up 3 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Moves Up For the 3rd Day In A Row

Hourly Update

(Last Updated February 24, 2021 0:21 GMT)

At the moment, EURUSD’s rate is up 3 pips (0.02%) from the hour prior. EURUSD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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 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)

EURUSD is up 49 pips (0.4%) since the day prior (opening today near 1.21663), marking the 3rd day in a row it has gone up. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 13th in terms of percentage change since the day prior. Let’s take a look at price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

First things first: EURUSD crossed above its 50 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 18.4 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days.