(Last Updated June 13, 2022 1:39 GMT)
At the time of this writing, EURUSD’s rate is down -19 pips (-0.18%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURUSD has now gone down 5 of the past 5 hours. 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 downtrend 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 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 107 pips (1.01%) since the day prior (opening today near 1.0513), marking the 2nd straight day it has gone down. Out of the 39 instruments in the Forex asset class, EURUSD ended up ranking 35th for the day in terms of price change. Let’s take a look at price chart of EURUSD.
EURUSD Technical Analysis
Coming into today EURUSD is now close to its 20 and 50 day averages, located at 1.0652 and 1.0679 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 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 30 days EURUSD’s price has gone up 15 them.