EUR/USD Down 41 Pips On 4 Hour Chart, Moves Down For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

EUR/USD 4 Hour Price Update

Updated March 31, 2020 01:08 PM GMT (09:08 AM EST)

EUR/USD is down 41 pips (0.37%) since the last 4 hour candle (opening the current 4 hour candle near 1.0956), marking the 4th candle in a row a decline has happened. Compared to its peers in the Forex, EUR/USD gave its buyers a return that ranked 30th in terms of percentage change since the last 4 hour candle.

EUR/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/USD is down 15 pips (0.13%) since yesterday (opening today near 1.1027), marking the 2nd day in a row a decline has happened. Out of the 40 instruments in the Forex asset class, EUR/USD ended up ranking 31st for the day in terms of price change. The price chart of EUR/USD below illustrates.

EUR/USD Technical Analysis

Coming into today EUR/USD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 20 day average, which is 11.6 pips away. Or to simplify this another way, note that out of the past 30 days EUR/USD’s price has gone up 18 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURUSD, with 10 buy signals on our radar and 25 sell signals. This imputes a buy/sell ratio of 0.4, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on fxempire.com; below is a short snippet from it to give you a taste.

EUR/USD is building a bullish channel after a large bearish decline. What is the next expected price swing within the roller coaster ride of 2020?