EURUSD Down 2 Pips Over Past Hour, 3 Day Up Streak Snapped; Nears 50 Day Moving Average

Hourly Update

(Last Updated February 25, 2021 0:21 GMT)

At the moment, EURUSD’s rate is down -2 pips (-0.02%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar 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, which opened today priced near 1.21534, is down 13 pips 0.11% since yesterday, marking a reversal from the day prior — and the end of a 3 day positive run. Compared to its peers in the Forex, EURUSD gave its buyers a return that ranked 27th in terms of percentage change since yesterday. Here is a price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

Coming into today EURUSD is now close to its 20, 50, 100 and 200 day averages, located at 1.209, 1.2146, 1.2043 and 1.1867 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 7.2 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days EURUSD’s price has gone up 16 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.