EUR/USD Down 3 Pips On Hourly Chart; Nears 20 Day Moving Average

Hourly Update

(Last Updated August 4, 2022 1:42 GMT)

At the time of this writing, EURUSD’s rate is down -3 pips (-0.03%) from the hour prior. The hourly chart shows that EURUSD has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend 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)

The back and forth price flow continues for EURUSD, which started today off at 1.01591, up 3 pips 0.03% from the day prior. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 21st in terms of percentage change since the day prior. The price chart of EURUSD below illustrates.

EURUSD

EURUSD Technical Analysis

Notably, the current price of EURUSD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for EURUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 6 out of the past 10 days.