EUR/USD Up 15 Pips On Hourly Chart, Entered Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated November 24, 2022 1:41 GMT)

At the time of this writing, EURUSD’s rate is up 15 pips (0.15%) from the hour prior. EURUSD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURUSD. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

EURUSD is up 107 pips (1.04%) since the previous day (opening today near 1.04134), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 6th in terms of percentage change since the previous day. Below is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Notably, EURUSD crossed above its 200 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 16.3 pips away. 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 6 out of the past 10 days.