EUR/USD Up 6 Pips in Last 4 Hours, Came Into Today Up For the 7th Day In A Row; in an Uptrend Over Past 14 Days

EUR/USD 4 Hour Price Update

Updated July 24, 2020 01:05 PM GMT (09:05 AM EST)

The back and forth price flow continues for EUR/USD, which started the current 4 hour candle off at 1.1604, up 6 pips 0.05% from the previous 4 hours. Compared to its peers in the Forex, EUR/USD gave its buyers a return that ranked 10th 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 is up 2 pips (0.02%) since the day prior (opening today near 1.1598), marking the 7th day in a row an upward move has occurred. Compared to its peers in the Forex, EUR/USD gave its buyers a return that ranked 16th in terms of percentage change since the day prior. Below is a price chart of EUR/USD.

EUR/USD Technical Analysis

Coming into today EUR/USD is now close to its 20 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 up over that time. Or to simplify this another way, note that out of the past 14 days EUR/USD’s price has gone up 12 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURUSD, with 20 buy signals on our radar and 25 sell signals. This imputes a buy/sell ratio of 0.8, which is neutral. 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.

FREE SIGNALEURUSD SELLTP 1: 1.15458TP 2: 1.14877TP 3: 1.14000SL 1.16500 (42 Pips) For this trade we have been watching EU’s movement for a while in my VIP Channel, currently we are seeing that it rode the uptrend and its rejecting this strong area of resistance….As Always, Stop loss is set above previous resistance in case of a reversal, and make sure to use proper risk management.