(Last Updated May 28, 2021 1:21 GMT)
At the time of this writing, EURUSD’s rate is down 0 pips (0%) from the hour prior. EURUSD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on EURUSD; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)
After 3 up days, EURUSD snaps its streak, falling 58 pips (-0.47%) over the past day to close at an exchange rate of 1.21903. Relative to other instruments in the Forex asset class, EURUSD ranked 35th yesterday in terms of percentage price change. The price chart of EURUSD below illustrates.
EURUSD Technical Analysis
The first thing we should note is that EURUSD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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. Or to simplify this another way, note that out of the past 10 days EURUSD’s price has gone up 7 them.