EUR/USD Up 9 Pips On 4 Hour Chart, 5 Day Up Streak Snapped; in an Uptrend Over Past 90 Days

EUR/USD 4 Hour Price Update

Updated July 23, 2020 09:23 AM GMT (05:23 AM EST)

EUR/USD is up 9 pips (0.08%) since the last 4 hour candle (opening the current 4 hour candle near 1.1586), marking the 2nd candle in a row an upward move has occurred. Compared to its peers in the Forex, EUR/USD gave its buyers a return that ranked 12th in terms of percentage change since the last 4 hour candle.

EUR/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 5 up days, EUR/USD snaps its streak, falling 1 pips (-0.01%) over the past day to close at an exchange rate of 1.15689. Out of the 40 instruments in the Forex asset class, EUR/USD ended up ranking 31st for the day in terms of price change. Below is a price chart of EUR/USD.

EUR/USD Technical Analysis

Notably, EUR/USD is now close to its 20 day averages, located at 1.1364 respectively, and thus may be at a key juncture along those timeframes. 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. For additional context, note that price has gone up 11 out of the past 14 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURUSD, with 19 buy signals on our radar and 20 sell signals. This imputes a buy/sell ratio of 0.95, 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 dailyfx.com; below is a short snippet from it to give you a taste.

EUR/USD trades to a fresh 2020 high (1.1602), with the appreciation in the exchange rate pushing the RSI into overbought territory for the third time in 2020.