EUR/USD 4 Hour Price Update
Updated March 25, 2020 01:37 PM GMT (09:37 AM EST)
EUR/USD is up 4 pips (0.04%) since the last 4 hour candle (opening the current 4 hour candle near 1.0814), marking the 4th candle in a row it has gone up. Relative to other instruments in the Forex asset class, EUR/USD ranked 19th the last 4 hour candle in terms of percentage price change.
EUR/USD End of Day Recap
Updated 00:30 GMT (04:30 EST)
EUR/USD is up 22 pips (0.2%) since yesterday (opening today near 1.0808), marking the 5th day in a row an increase has occurred. Out of the 40 instruments in the Forex asset class, EUR/USD ended up ranking 10th for the day in terms of price change. The price chart of EUR/USD below illustrates.
EUR/USD Technical Analysis
The first thing we should note is that EUR/USD is now close to its 20, 50, 100 and 200 day averages, located at 1.1049, 1.0982, 1.1046 and 1.1052 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 174 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days EUR/USD’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
The View From Around the Web
Of note is that traders in aggregate have opinions on EURUSD, with 16 buy signals on our radar and 14 sell signals. This imputes a buy/sell ratio of 1.14, 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.
Please Support this Idea with LIKE if it is Useful…….EURUSD The price is above key support/resistance level,everytime price tries to move down it is supported by a trendline,If price stays above the level then there is a chance that price will continue moving up,wait for the price to gives any bullish signal,look for buy opportunity…..Push LIKE & SUPPORT the Idea…