EUR/USD Down 2 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; 2 Day Down Streak Broken

Hourly Update

(Last Updated December 16, 2021 1:41 GMT)

At the moment, EURUSD’s rate is down -2 pips (-0.01%) from the hour prior. This is the 2nd consecutive hour EURUSD has seen its price head down. Regarding the trend, note that the strongest trend exists 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)

EURUSD entered today at 1.12931, up 35 pips (0.31%) from yesterday. Relative to other instruments in the Forex asset class, EURUSD ranked 18th yesterday in terms of percentage price change. Let’s take a look at price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

First things first: EURUSD crossed above its 20 day moving average yesterday. 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. For additional context, note that price has gone down 18 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.