(Last Updated September 24, 2021 1:48 GMT)
At the time of this writing, EURUSD’s rate is up 3 pips (0.03%) from the hour prior. The hourly chart shows that EURUSD has seen 3 straight up hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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)
The back and forth price flow continues for EURUSD, which started today off at 1.17452, up 56 pips 0.48% from the day prior. Relative to other instruments in the Forex asset class, EURUSD ranked 17th the day prior in terms of percentage price change. Let’s take a look at price chart of EURUSD.
EURUSD Technical Analysis
Notably, EURUSD is now close to its 20, 50, 100 and 200 day averages, located at 1.1799, 1.1788, 1.1869 and 1.1944 respectively, and thus may be at a key juncture along those timeframes. 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 50 day average, which is 42.7 pips away. 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 8 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.