EURUSD Up 2 Pips On Hourly Chart, Moves Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 30, 2021 2:18 GMT)

At the moment, EURUSD’s rate is up 2 pips (0.02%) 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. Regarding the trend, note that the strongest trend exists on the 100 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 is down 1 pips (0.01%) since the day prior (opening today near 1.17199), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 23rd in terms of percentage change since the day prior. The price chart of EURUSD below illustrates.

EURUSD

EURUSD Technical Analysis

The first thing we should note is that EURUSD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 50 day average, which is 62.1 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days EURUSD’s price has gone down 9 them.