EUR/USD Down 3 Pips On Hourly Chart, Moves Down For the 3rd Day In A Row; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated November 22, 2022 1:41 GMT)

At the time of this writing, EURUSD’s rate is down -3 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 is down 82 pips (0.79%) since yesterday (opening today near 1.02413), marking the 3rd day in a row a decrease has occurred. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 37th in terms of percentage change since yesterday. Below is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

The first thing we should note is that EURUSD is now close to its 20, 100 and 200 day averages, located at 1.0096, 1.0023 and 1.0407 respectively, and thus may be at a key juncture along those timeframes. 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 145.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EURUSD’s price has gone up 7 them.