EUR/USD Down 6 Pips in Last 4 Hours; is Inching Close to 20 Day Average

EUR/USD 4 Hour Price Update

Updated May 12, 2020 12:58 AM GMT (08:58 PM EST)

The back and forth price flow continues for EUR/USD, which started the current 4 hour candle off at 1.0808, down 6 pips 0.06% from the previous 4 hours. Compared to its peers in the Forex, EUR/USD gave its buyers a return that ranked 24th in terms of percentage change since the previous 4 hours.

EUR/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of EUR/USD continues; to start today, it came in at a price of 1.0808, up 1 pips (0.01%) since the previous day. Out of the 40 instruments in the Forex asset class, EUR/USD ended up ranking 23rd for the day in terms of price change. Below is a price chart of EUR/USD.

EUR/USD Technical Analysis

The first thing we should note is that the current price of EUR/USD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. For additional context, note that price has gone up 8 out of the past 14 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURUSD, with 9 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 1.29, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Eurusd analysis video with :1. Support & resistance2. Trendline3. Currency index Exy/Dxy