EUR/USD Up 6 Pips On Hourly Chart, Entered Today Up For the 2nd Straight Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated July 19, 2022 1:39 GMT)

Currently, EURUSD’s rate is up 6 pips (0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)

EURUSD is up 75 pips (0.75%) since yesterday (opening today near 1.01396), marking the 2nd straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, EURUSD ended up ranking 6th for the day in terms of price change. Let’s take a look at price chart of EURUSD.

EURUSD

EURUSD Technical Analysis

The first thing we should note is that EURUSD is now close to its 20 day averages, located at 1.0309 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 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 8 out of the past 14 days.