EUR/USD Up 2 Pips in Last Hour; Moves Up For the 3rd Day In A Row

Hourly Update

(Last Updated June 17, 2022 1:40 GMT)

At the moment, EURUSD’s rate is up 2 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend 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 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 91 pips (0.87%) since yesterday (opening today near 1.05489), marking the 3rd day in a row an upward move has occurred. Out of the 39 instruments in the Forex asset class, EURUSD ended up ranking 10th for the day in terms of price change. Here is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Notably, the current price of EURUSD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 50 day average, which is 93.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days EURUSD’s price has gone up 7 them.