EUR/USD Down 2 Pips Over Past Hour, Breaks Below 20 Day Average; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated January 7, 2022 1:40 GMT)

Currently, EURUSD’s rate is down -2 pips (-0.02%) from the hour prior. This is the 2nd consecutive hour EURUSD has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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)

The back and forth price flow continues for EURUSD, which started today off at 1.12953, down 17 pips 0.15% from yesterday. Out of the 39 instruments in the Forex asset class, EURUSD ended up ranking 20th for the day in terms of price change. Here is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURUSD crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EURUSD’s price has gone up 5 them.