EUR/AUD Up 8 Pips in Last Hour, Outperforms All Forex; Came Into Today Up For the 5th Day In A Row
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
EURAUD
(Last Updated April 15, 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:
Forex Calendar for EURAUD
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Australia Employment Change | Mar 2021 | Australian Dollar | AUD | 2021-04-15 | 01:30 GMT | 35K | 70.7K |
| Australia Unemployment Rate | Mar 2021 | Australian Dollar | AUD | 2021-04-15 | 01:30 GMT | 5.7% | 5.6% |
| Australia Participation Rate | Mar 2021 | Australian Dollar | AUD | 2021-04-15 | 01:30 GMT | 66.1% | 66.3% |
| Australia HIA New Home Sales MoM | Mar 2021 | Australian Dollar | AUD | 2021-04-16 | 03:00 GMT | ||
| Euro Area Eurogroup Video Conference | NA | Euro | EUR | 2021-04-16 | 08:00 GMT |
The Trend
As for trends on EURAUD, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.
EURAUD Moving Averages
EURAUD’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bearish, implying a downward trend, aside from a jump about 3 weeks prior.
The chart below illustrates.
Regarding EURAUD’s correlations over the past 7 days, it has been most correlated with AUDJPY. If we zoom out to a two week basis, though, the asset showing the strongest correlation to EURAUD is AUDCHF. On the flip side, GBPCAD has been the asset least correlated with EURAUD — but if we observe the prior two weeks, the asset least correlated with EURAUD has been AUDCAD. 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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The View From the Weekly Timeframe
At the time of this writing, EURAUD’s rate is down -103 pips (-0.66%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. 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. EURAUD’s weekly price action over the past 52 weeks can be seen via the chart below.
EURAUD: The Monthly View
Clearest trend on the monthly is apparent at the 120 month timeframe.
EURAUD Up 21 Pips On Hourly Chart, Tops All Forex; Moves Up For the 5th Day In A Row
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
EURAUD Up 8 Pips Over Past Hour, Moves Up For the 4th Consecutive Day; is Inching Close to 50 Day Average
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.
EURAUD Up 7 Pips in Last Hour, Nears 20 and 50 Day Moving Averages; Doji Pattern Appearing on Chart
For additional context, note that price has gone up 16 out of the past 30 days.
EURAUD Up 11 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Nears 20 and 50 Day Moving Averages
Volatility for euraud has been contracting over the past two weeks relative to volatility over the past month.
EURAUD Down 7 Pips On Hourly Chart; Nears 20 and 50 Day Moving Averages
Relative to other instruments in the forex asset class, euraud ranked 21st yesterday in terms of percentage price change.
EURAUD Up 4 Pips Over Past Hour, Moves Down For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
This is the 2nd straight hour euraud has seen its price head up.
EURAUD Up 6 Pips in Last Hour, Price Base in Formation Over Past 30 Days; Eyes 50 Day Average
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.
EURAUD Up 2 Pips in Last Hour, 4 Day Up Streak Snapped; is Inching Close to 50 Day Average
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
EUR/AUD Up 4 Pips On Hourly Chart, Moves Up For the 3rd Consecutive Day; in an Uptrend Over Past 90 Days
This is a reversal of the price action on the previous hour, in which price moved down.