EURUSD Down 0 Pips Over Past Hour, Came Into Today Down For the 2nd Consecutive Day; Eyes 20 and 100 Day Averages

Hourly Update

(Last Updated February 19, 2021 0:21 GMT)

At the time of this writing, EURUSD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend 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 is down 52 pips (0.43%) since the previous day (opening today near 1.20435), marking the 2nd consecutive day a decline has happened. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 35th in terms of percentage change since the previous day. The price chart of EURUSD below illustrates.

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. 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 100 day average, which is 13 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days EURUSD’s price has gone down 16 them.