(Last Updated March 31, 2021 0:20 GMT)
At the time of this writing, EURUSD’s rate is down -3 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
EURUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
EURUSD is down 21 pips (0.18%) since yesterday (opening today near 1.17676), marking the 2nd day in a row it has gone down. Relative to other instruments in the Forex asset class, EURUSD ranked 31st yesterday in terms of percentage price change. Here is a price chart of EURUSD.
EURUSD Technical Analysis
Coming into today EURUSD is now close to its 20, 50 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 118 pips away. It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 11 out of the past 14 days. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!