(Last Updated January 6, 2021 2:20 GMT)
At the moment, EURUSD’s rate is up 14 pips (0.12%) from the hour prior. This is the 2nd straight hour EURUSD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)
The back and forth price flow continues for EURUSD, which started today off at 1.22433, up 28 pips 0.23% from the previous day. Out of the 40 instruments in the Forex asset class, EURUSD ended up ranking 9th for the day in terms of price change. The price chart of EURUSD below illustrates.
EURUSD Technical Analysis
The first thing we should note is that EURUSD is now close to its 20 and 50 day averages, located at 1.2182 and 1.198 respectively, and thus may be at a key juncture along those timeframes. 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 5 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!