EUR/USD Up 3 Pips On Hourly Chart, Moves Down For the 5th Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 30, 2021 21:35 GMT)

At the time of this writing, EURUSD’s rate is up 3 pips (0.02%) 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. Price action traders may also wish to note that we see a doji candlestick pattern on EURUSD. Given that we see downtrend 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 down 86 pips (0.74%) since the day prior (opening today near 1.16004), marking the 5th consecutive day a decrease has occurred. Out of the 39 instruments in the Forex asset class, EURUSD ended up ranking 34th for the day in terms of price change. Let’s take a look at price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Coming into today the current price of EURUSD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 10 days.