EUR/USD Down 9 Pips Over Past 4 Hours, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 14 Days

EUR/USD 4 Hour Price Update

Updated August 03, 2020 05:11 AM GMT (01:11 AM EST)

EUR/USD entered the current 4 hour candle at 1.1774, down 9 pips (0.08%) from the previous 4 hours. Relative to other instruments in the Forex asset class, EUR/USD ranked 28th the previous 4 hours in terms of percentage price change.

EUR/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/USD is up 2 pips (0.02%) since yesterday (opening today near 1.17802), marking the 2nd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EUR/USD ranked 19th yesterday in terms of percentage price change. Here is a price chart of EUR/USD.

EUR/USD

EUR/USD Technical Analysis

The first thing we should note is that EUR/USD is now close to its 20 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 12 out of the past 14 days.

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 17 sell signals. This imputes a buy/sell ratio of 0.82, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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