EUR/USD Down 5 Pips Over Past Hour, Entered Today Up For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 19, 2021 1:42 GMT)

At the time of this writing, EURUSD’s rate is down -5 pips (-0.04%) from the hour prior. The hourly chart shows that EURUSD has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURUSD. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 up 51 pips (0.45%) since the previous day (opening today near 1.13687), marking the 2nd day in a row an upward move has occurred. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 11th in terms of percentage change since the previous day. The price chart of EURUSD below illustrates.

EURUSD

EURUSD Technical Analysis

Notably, EURUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 7 out of the past 14 days.