EURUSD Down 0 Pips in Last Hour, Moves Up For the 2nd Consecutive Day; Crosses 20 Day Moving Average

Hourly Update

(Last Updated February 11, 2021 1:24 GMT)

Currently, EURUSD’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURUSD has now gone down 8 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURUSD is up 66 pips (0.54%) since the previous day (opening today near 1.21177), marking the 2nd consecutive day an increase has occurred. For context, observe that the previous day was noteworthy in the sense that EURUSD bested all 39 of the assets in the Forex class. Here is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Notably, EURUSD crossed above its 20 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 19.9 pips away. It should be noted, though, the 20 and 50 day simple moving averages turned upwards, which may be a bullish sign. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days EURUSD’s price has gone down 17 them.