EURUSD Down 4 Pips On Hourly Chart, Came Into Today Down For the 3rd Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated April 1, 2021 0:20 GMT)

At the moment, EURUSD’s rate is down -4 pips (-0.03%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURUSD has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURUSD is down 45 pips (0.38%) since yesterday (opening today near 1.17231), marking the 3rd consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, EURUSD ranked 36th yesterday in terms of percentage price change. The price chart of EURUSD below illustrates.

EURUSD

EURUSD Technical Analysis

Coming into today the current price of EURUSD is sitting close to its 20, 50 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 20 day average, which is 152.5 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 20 out of the past 30 days.