EURUSD Up 4 Pips in Last Hour, Came Into Today Up For the 3rd Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 17, 2020 2:19 GMT)

At the time of this writing, EURUSD’s rate is up 4 pips (0.03%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as EURUSD has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURUSD. Given that we see an uptrend on the 10 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 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)

EURUSD is up 15 pips (0.13%) since yesterday (opening today near 1.18498), marking the 3rd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, EURUSD ended up ranking 19th for the day in terms of price change. Below is a 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. 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 7 out of the past 10 days.