(Last Updated January 5, 2021 2:20 GMT)
At the moment, EURUSD’s rate is up 5 pips (0.04%) from the hour prior. The hourly chart shows that EURUSD has seen 2 straight up hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Of note is that the 20 hour changed directions on EURUSD; it is now pointing up. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
EURUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of EURUSD continues; to start today, it came in at a price of 1.22433, up 28 pips (0.23%) since the previous day. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 9th in terms of percentage change since the previous day. Let’s take a look at price chart of EURUSD.
EURUSD Technical Analysis
Coming into today EURUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Volatility for EURUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!