EUR/USD Down 7 Pips in Last 4 Hours, Came Into Today Up For the 4th Day In A Row; in an Uptrend Over Past 90 Days

EUR/USD 4 Hour Price Update

Updated July 21, 2020 09:08 AM GMT (05:08 AM EST)

EUR/USD is down 7 pips (0.06%) since the last 4 hour candle (opening the current 4 hour candle near 1.1439), marking the 2nd candle in a row it has gone down. Relative to other instruments in the Forex asset class, EUR/USD ranked 27th the last 4 hour candle in terms of percentage price change.

EUR/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/USD is up 7 pips (0.06%) since the previous day (opening today near 1.14545), marking the 4th day in a row it has gone up. Relative to other instruments in the Forex asset class, EUR/USD ranked 14th the previous day in terms of percentage price change. Here is a price chart of EUR/USD.

EUR/USD Technical Analysis

Coming into today EUR/USD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 11 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURUSD, with 11 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a relative strength index technical pattern. Here’s a piece we found on fxempire.com; below is a short snippet from it to give you a taste.

EUR/USD is in an uptrend. However, the rising wedge pattern is indicating a potential retracement. What’s next?