EUR/USD Down 1 Pips Over Past Hour, 2 Day Up Streak Snapped; Pin Bar Pattern Appearing on Chart
The closest is the 50 day average, which is 69 pips away.
EURUSD
(Last Updated April 15, 2021)
Welcome to the news page for EURUSD (EURUSD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for EURUSD
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| United States Philadelphia Fed Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 42 | 50.2 |
| United States NY Empire State Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 19.5 | 26.3 |
| United States Retail Sales MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5.9% | 9.8% |
| United States Retail Sales Ex Autos MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5% | 8.4% |
| United States Continuing Jobless Claims | 03/Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 3700K | 3731K |
The Trend
A trend/countertrend situation exists on EURUSD, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
EURUSD Moving Averages
The moving averages on EURUSD summarize its price action in an interesting way. The 20 and 200 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 50 and 100 day averages that imply a bearish trend.
Below is a chart showing EURUSD’s price with its moving averages.
Regarding EURUSD’s correlations over the past 7 days, it has been most correlated with USDJPY. If we zoom out to a two week basis, though, the asset showing the strongest correlation to EURUSD is USDCHF. Alternatively, the asset least correlated with EURUSD over the past week has been EURJPY, but over the past two weeks, TRYJPY has been the asset least correlated with EURUSD. The chart below illustrates EURUSD against its least correlated assets.
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The View From the Weekly Timeframe
Currently, EURUSD’s rate is up 82 pips (0.68%) from the week prior. Moreover, note that this is the 2nd week in a row EURUSD has seen its price head up. Regarding the trend, note that the strongest trend 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. EURUSD’s weekly price action over the past 52 weeks can be seen via the chart below.
EURUSD: The Monthly View
Strongest trend on the 24 month timeframe.
EURUSD Down 5 Pips in Last Hour, 2 Day Up Streak Ended; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone down 6 out of the past 10 days.
EURUSD Down 1 Pips Over Past Hour, Entered Today Up For the 2nd Day In A Row; in a Downtrend Over Past 14 Days
For additional context, note that price has gone up 17 out of the past 30 days.
EURUSD Up 1 Pips Over Past Hour; Breaks Below 20 and 50 Day Averages
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.
EURUSD Down 1 Pips On Hourly Chart, 2 Day Down Streak Ended; Crosses 20 Day Moving Average
Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up.
EURUSD Down 1 Pips in Last Hour, 2 Day Down Streak Snapped; Crosses 20 Day Moving Average
It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe.
EURUSD Up 2 Pips On Hourly Chart, Price Base in Formation Over Past 14 Days; 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.
EURUSD Up 3 Pips On Hourly Chart; is Inching Close to 20 and 50 Day Averages
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down.
EURUSD Down 1 Pips Over Past Hour, 3 Day Down Streak Ended; Nears 20 and 50 Day Moving Averages
Relative to other instruments in the forex asset class, eurusd ranked 10th yesterday in terms of percentage price change.
EUR/USD Down 0 Pips in Last Hour, Entered Today Down For the 2nd Day In A Row; in a Downtrend Over Past 90 Days
This is a reversal of the price action on the previous hour, in which price moved up.