(Last Updated January 8, 2021 3:20 GMT)
At the time of this writing, EURUSD’s rate is down -12 pips (-0.1%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURUSD has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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)
After 3 up days, EURUSD snaps its streak, falling 54 pips (-0.44%) over the past day to close at an exchange rate of 1.22697. Out of the 40 instruments in the Forex asset class, EURUSD ended up ranking 38th for the day in terms of price change. Below is a price chart of EURUSD.
EURUSD Technical Analysis
Coming into today EURUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Volatility for EURUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.