EUR/USD Down 2 Pips On 4 Hour Chart, 8 Day Up Streak Ended; in an Uptrend Over Past 90 Days

EUR/USD 4 Hour Price Update

Updated July 27, 2020 09:07 PM GMT (05:07 PM EST)

EUR/USD entered the current 4 hour candle at 1.1746, down 2 pips (0.02%) from the last 4 hour candle. Relative to other instruments in the Forex asset class, EUR/USD ranked 20th the last 4 hour candle in terms of percentage price change.

EUR/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/USD, which opened today priced near 1.16526, is down 3 pips 0.02% since the previous day, marking a reversal from the day prior — and the end of a 8 day positive run. Compared to its peers in the Forex, EUR/USD gave its buyers a return that ranked 36th in terms of percentage change since the previous day. Let’s take a look at price chart of EUR/USD.

EUR/USD

EUR/USD Technical Analysis

The first thing we should note is that the current price of EUR/USD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURUSD, with 6 buy signals on our radar and 21 sell signals. This imputes a buy/sell ratio of 0.29, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a relative strength index technical pattern. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

EUR/USD is testing resistance of a multi-year symmetrical triangle. Will economic data, risk sentiment and a global pandemic provide the breakout catalyst?