EUR/USD Down 8 Pips in Last Hour, 3 Day Down Streak Broken; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated November 23, 2022 2:24 GMT)

Currently, EURUSD’s rate is down -8 pips (-0.08%) from the hour prior. EURUSD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

EURUSD, which opened today priced near 1.03064, is up 65 pips 0.64% since the day prior, marking a reversal from the day prior — and the end of a 3 day negative run. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 4th in terms of percentage change since the day prior. Below is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

The first thing we should note is that EURUSD is now close to its 20 and 200 day averages, located at 1.0113 and 1.0402 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 95.5 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!