EUR/USD Down 5 Pips in Last 4 Hours, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

EUR/USD 4 Hour Price Update

Updated May 14, 2020 09:07 AM GMT (05:07 AM EST)

EUR/USD is down 5 pips (0.05%) since the previous 4 hours (opening the current 4 hour candle near 1.0804), marking the 2nd candle in a row a decrease has occurred. Compared to its peers in the Forex, EUR/USD gave its buyers a return that ranked 23rd in terms of percentage change since the previous 4 hours.

EUR/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/USD entered today at 1.08196, up 2 pips (0.01%) from the day prior. Compared to its peers in the Forex, EUR/USD gave its buyers a return that ranked 27th in terms of percentage change since the day prior. Below is a price chart of EUR/USD.

EUR/USD Technical Analysis

Notably, EUR/USD is now close to its 20, 50, 100 and 200 day averages, located at 1.085, 1.0872, 1.0948 and 1.1012 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days EUR/USD’s price has gone up 15 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURUSD, with 18 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 1.2, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

EUR/USD is in danger of breaking below trendline support as the markets wait for a 1300 GMT speech on current economic conditions by US Federal Reserve Chair Jay Powell.