EURUSD Up 7 Pips Over Past Hour; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 20, 2020 2:18 GMT)

At the moment, EURUSD’s rate is up 7 pips (0.06%) 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 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURUSD. Given that we see an uptrend on the 20 and 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 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 entered today at 1.18727, up 21 pips (0.17%) from the previous day. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 5th in terms of percentage change since the previous day. Let’s take a look at price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Coming into today EURUSD is now close to its 20, 50 and 100 day averages, located at 1.1788, 1.1774 and 1.1731 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 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.