EUR/USD Up 4 Pips Over Past Hour, Eyes 20 and 50 Day Averages; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated December 27, 2021 1:39 GMT)

At the time of this writing, EURUSD’s rate is up 4 pips (0.03%) from the hour prior. The hourly chart shows that EURUSD has seen 3 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend 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 1.13231, up 5 pips 0.05% from the day prior. Out of the 39 instruments in the Forex asset class, EURUSD ended up ranking 10th for the day in terms of price change. Let’s take a look at price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Notably, EURUSD is now close to its 20, 50 and 100 day averages, located at 1.1297, 1.1365 and 1.1527 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 7 out of the past 10 days. Also, candlestick traders! Note we see doji pattern appearing here as well.