EUR/USD Down 2 Pips in Last Hour, Entered Today Down For the 2nd Consecutive Day; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated January 5, 2022 1:42 GMT)

At the moment, EURUSD’s rate is down -2 pips (-0.02%) from the hour prior. This is the 2nd hour in a row EURUSD has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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)

EURUSD is down 14 pips (0.12%) since the previous day (opening today near 1.1284), marking the 2nd consecutive day it has gone down. Out of the 39 instruments in the Forex asset class, EURUSD ended up ranking 27th for the day in terms of price change. Let’s take a look at price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Notably, EURUSD is now close to its 20, 50 and 100 day averages, located at 1.1307, 1.1326 and 1.1485 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. For additional context, note that price has gone up 5 out of the past 10 days. Also, candlestick traders! Note we see doji pattern appearing here as well.