EURUSD Down 1 Pips Over Past Hour, 2 Day Up Streak Broken; Breaks Below 20 Day Average

Hourly Update

(Last Updated February 17, 2021 23:20 GMT)

At the time of this writing, EURUSD’s rate is down -1 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 choppiness in the recent daily price action of EURUSD continues; to start today, it came in at a price of 1.20957, down 35 pips (0.29%) since the day prior. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 36th in terms of percentage change since the day prior. The price chart of EURUSD below illustrates.

EURUSD

EURUSD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURUSD crossed below its 20 day moving average yesterday. 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 0.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days.