EURAUD Up 4 Pips On Hourly Chart, Entered Today Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart
The closest is the 100 day average, which is 87.6 pips away.
(Last Updated March 16, 2021)
Welcome to the news page for EURAUD (EURAUD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
---|---|---|---|---|---|---|---|
Australia House Price Index QoQ | Q4 2020 | Australian Dollar | AUD | 2021-03-16 | 00:30 GMT | 2% | 3% |
Australia RBA Meeting Minutes | NA | Australian Dollar | AUD | 2021-03-16 | 00:30 GMT | ||
Euro Area ECB Enria Speech | NA | Euro | EUR | 2021-03-16 | 11:00 GMT | ||
Australia RBA Kent Speech | NA | Australian Dollar | AUD | 2021-03-16 | 23:30 GMT | ||
Euro Area Inflation Rate YoY Final | Feb 2021 | Euro | EUR | 2021-03-17 | 10:00 GMT | 0.9% |
If we observe the 90 and 30 day timeframes, we see a downtrend in place for EURAUD.
EURAUD’s moving averages suggest the trend on a number of time horizons is bearish.
The chart below illustrates.
As for assets in the Forex asset class EURAUD has been correlated to over the past week, it has demonstrated the strongest correlation with NZDJPY. Over the past 14 days, however, USDCAD is the asset most correlated to EURAUD. On the flip side, NZDCAD has been the asset least correlated with EURAUD — but if we observe the prior two weeks, CHFJPY has been the asset least correlated with EURAUD. See the chart below to observe the recent price action in EURAUD versus those of assets it hasn’t been well correlated with.
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At the time of this writing, EURAUD’s rate is down -91 pips (-0.59%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as EURAUD has now gone down 4 of the past 5 weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly 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. The weekly chart below shows EURAUD’s price action over the past year.
Clearest trend on the monthly is apparent at the 60 month timeframe.
The closest is the 100 day average, which is 87.6 pips away.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
This move is a reversal from the hour prior, which saw price move up.
It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe.
This move is a reversal from the hour prior, which saw price move down.
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.
This is a reversal of the price action on the previous hour, in which price moved down.
This move is a reversal from the hour prior, which saw price move up.
Relative to other instruments in the forex asset class, euraud ranked 5th the day prior in terms of percentage price change.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.