EUR/USD Down 5 Pips Over Past 4 Hours, Moves Up For the 2nd Day In A Row; is Inching Close to 20 and 50 Day Averages

EUR/USD 4 Hour Price Update

Updated May 13, 2020 01:11 AM GMT (09:11 PM EST)

The choppiness in the recent four-hour candle price action of EUR/USD continues; to start the current 4 hour candle, it came in at a price of 1.0846, down 5 pips (0.05%) since the previous 4 hours. Relative to other instruments in the Forex asset class, EUR/USD ranked 21st the previous 4 hours in terms of percentage price change.

EUR/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/USD is up 2 pips (0.02%) since yesterday (opening today near 1.08487), marking the 2nd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, EUR/USD ended up ranking 24th for the day in terms of price change. Here is a price chart of EUR/USD.

EUR/USD Technical Analysis

Coming into today EUR/USD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. For additional context, note that price has gone up 5 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 19 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 3.17, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

The Euro is no longer the worst performing currency in May, ceding that crown to the British Pound, which remains befallen by hard Brexit fears due to the coronavirus pandemic.