EURUSD Up 3 Pips in Last Hour, Entered Today Down For the 2nd Day In A Row; Nears 20 and 50 Day Moving Averages

Hourly Update

(Last Updated September 8, 2021 12:19 GMT)

At the time of this writing, EURUSD’s rate is up 3 pips (0.02%) from the hour prior. EURUSD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

EURUSD is down 30 pips (0.25%) since yesterday (opening today near 1.18416), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 33rd in terms of percentage change since yesterday. Here is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Notably, EURUSD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 10 out of the past 14 days.