EUR/USD 4 Hour Price Update
Updated July 22, 2020 09:18 AM GMT (05:18 AM EST)
EUR/USD, which opened the current 4 hour candle priced near 1.1519, is down 21 pips 0.18% since the previous 4 hours, marking a reversal from the candle prior — and the end of a 4 four-hour candle positive run. Out of the 37 instruments in the Forex asset class, EUR/USD ended up ranking 31st for the four-hour candle in terms of price change.
EUR/USD End of Day Recap
Updated 00:30 GMT (04:30 EST)
EUR/USD is up 10 pips (0.09%) since yesterday (opening today near 1.1537), marking the 5th day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EUR/USD ranked 13th yesterday in terms of percentage price change. The price chart of EUR/USD below illustrates.
EUR/USD Technical Analysis
Notably, EUR/USD is now close to its 20 and 50 day averages, located at 1.1345 and 1.1271 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. Or to simplify this another way, note that out of the past 14 days EUR/USD’s price has gone up 11 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on EURUSD, with 24 buy signals on our radar and 21 sell signals. This imputes a buy/sell ratio of 1.14, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Hello all traders EUR/USD Trade Setup / Analysis—————- Just browsing through my analysis means a lot to me….Please follow the analysis very carefully and every detail of the chart means a lot….And always entry depends on many reasons carefully studiedAlways enter into deals when there are more than 5 reasons combinedKey Technical / Reason’s Waiting / Short1) Demand Brocken 2) Volume Profile Confirmation3) Pattern / UP Channel4) Fibo Break Out 5) Turn level 6) 50 % wave Damaged AreaMain Supply / Demand Entry level’s1) 1.16250 Area R2) 1.15000 Area S Entry’s Point Forshort after Break Out 1.14750 Break Down / Target’s – 1) 1.13750 – Mid line up Channel / Turn level 2) 1.12750 – Lower line for Up Channel + Turn level + POC