(Last Updated September 3, 2021 2:18 GMT)
At the moment, EURUSD’s rate is up 9 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURUSD. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 up 33 pips (0.28%) since the previous day (opening today near 1.18736), marking the 3rd day in a row an upward move has occurred. Out of the 39 instruments in the Forex asset class, EURUSD ended up ranking 13th for the day in terms of price change. Below is a price chart of EURUSD.
EURUSD Technical Analysis
Coming into today EURUSD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days EURUSD’s price has gone up 10 them.