EUR/USD Up 17 Pips On 4 Hour Chart, Entered Today Up For the 3rd Day In A Row; in an Uptrend Over Past 14 Days

EUR/USD 4 Hour Price Update

Updated July 31, 2020 05:07 AM GMT (01:07 AM EST)

EUR/USD is up 17 pips (0.14%) since the last 4 hour candle (opening the current 4 hour candle near 1.1892), marking the 5th candle in a row an increase has occurred. Compared to its peers in the Forex, EUR/USD gave its buyers a return that ranked 7th 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 up 20 pips (0.17%) since the previous day (opening today near 1.18674), marking the 3rd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EUR/USD ranked 6th the previous day in terms of percentage price change. Let’s take a look at price chart of EUR/USD.

EUR/USD

EUR/USD Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days EUR/USD’s price has gone up 9 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURUSD, with 14 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 1.4, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

The extreme reading in the Relative Strength Index (RSI) warns of a further appreciation in EUR/USD like the behavior seen in June.