EUR/USD Up 12 Pips Over Past Hour; 3 Day Down Streak Ended

Hourly Update

(Last Updated June 15, 2022 1:42 GMT)

At the moment, EURUSD’s rate is up 12 pips (0.12%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as EURUSD has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 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)

After 3 down days, EURUSD snaps its streak, rising 23 pips (0.22%) over the past day to close at an exchange rate of 1.04328. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 16th in terms of percentage change since the day prior. Here is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

The first thing we should note is that EURUSD 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 down over that time. Or to simplify this another way, note that out of the past 30 days EURUSD’s price has gone up 15 them.