EURUSD Down 5 Pips in Last Hour; Moves Up For the 4th Consecutive Day

Hourly Update

(Last Updated November 18, 2020 2:19 GMT)

Currently, EURUSD’s rate is down -5 pips (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on EURUSD; it is now pointing down. 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 12 pips (0.1%) since yesterday (opening today near 1.18615), marking the 4th consecutive day an increase has occurred. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 14th in terms of percentage change since yesterday. The price chart of EURUSD below illustrates.

EURUSD

EURUSD Technical Analysis

Notably, EURUSD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 8 out of the past 14 days.