EUR/USD Up 1 Pips in Last Hour, 2 Day Down Streak Snapped; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated June 3, 2022 1:41 GMT)

Currently, EURUSD’s rate is up 1 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists 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)

The back and forth price flow continues for EURUSD, which started today off at 1.07491, up 97 pips 0.91% from the day prior. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 6th in terms of percentage change since the day prior. Let’s take a look at price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Notably, EURUSD crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. 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!