EUR/AUD Up 11 Pips Over Past 4 Hours, 2 Day Down Streak Ended; in a Downtrend Over Past 90 Days
For additional context, note that price has gone down 17 out of the past 30 days.
EURAUD
(Last Updated July 2, 2020)
Welcome to the news page for EURAUD (EURAUD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
On EURAUD, we don’t see a clear trend until the 90 day basis, where we see a clear downtrend.
EURAUD Moving Averages
EURAUD’s moving averages tell a multi-facted story about its trend. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bearish, implying a downward trend, aside from a spike about 6 months prior. Moreover, today we saw the 20 moving average turn bearish.
The chart below illustrates.
In terms of correlations over the past week for EURAUD, it has demonstrated the strongest correlation with GBPJPY. If we zoom out to a two week basis, though, the asset showing the strongest correlation to EURAUD is NZDJPY. Alternatively, the asset least correlated with EURAUD over the past week has been NZDCAD, but over the past two weeks, AUDNZD has been the asset least correlated with EURAUD. The chart below illustrates EURAUD against its least correlated assets.
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EUR/AUD Down 2 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 90 Days
For additional context, note that price has gone down 17 out of the past 30 days.
EUR/AUD Up 8 Pips On 4 Hour Chart, Eyes 20 Day Average; Pin Bar Pattern Appearing on Chart
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.
EUR/AUD Down 26 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Price Base in Formation Over Past 14 Days
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
EUR/AUD Down 30 Pips Over Past 4 Hours, Moves Up For the 2nd Day In A Row; in a Downtrend Over Past 90 Days
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
EUR/AUD Down 1 Pips in Last 4 Hours, Eyes 20 Day Average; Pin Bar Pattern Appearing on Chart
The closest is the 20 day average, which is 28.2 pips away.
EUR/AUD Down 40 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 90 Days
It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign.
EUR/AUD Up 16 Pips Over Past 4 Hours, Crosses 20 Day Moving Average; Doji and Pin Bar Patterns Appearing on Chart
Or to simplify this another way, note that out of the past 10 days eur/aud’s price has gone down 6 them.
EUR/AUD Down 17 Pips On 4 Hour Chart, Came Into Today Down For the 2nd Day In A Row; Eyes 20 Day Average
The closest is the 20 day average, which is 33.8 pips away.
EUR/AUD Up 6 Pips On 4 Hour Chart, Breaks Below 20 Day Average; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone down 6 out of the past 10 days.