(Last Updated May 13, 2022 1:41 GMT)
At the time of this writing, 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 134 pips (1.28%) since the day prior (opening today near 1.03794), marking the 3rd straight day it has gone down. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 32nd in terms of percentage change since the day prior. The price chart of EURUSD below illustrates.
EURUSD Technical Analysis
Coming into today EURUSD is now close to its 20 day averages, located at 1.0627 respectively, and thus may be at a key juncture along those timeframes. Volatility for EURUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. Or to simplify this another way, note that out of the past 10 days EURUSD’s price has gone up 5 them.