EURUSD

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.

Volatility for eurusd has been contracting over the past two weeks relative to volatility over the past month.

It’s been a feast for bears operating on an hourly timeframe, as eurusd has now gone down 8 of the past 10 hours.

Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.

Price action traders may also wish to note that we see a doji candlestick pattern on eurusd.

This is a reversal of the price action on the previous hour, in which price moved up.

Compared to its peers in the forex, eurusd gave its buyers a return that ranked 32nd in terms of percentage change since the day prior.

Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.

Or to simplify this another way, note that out of the past 10 days eurusd’s price has gone up 5 them.

Relative to other instruments in the forex asset class, eurusd ranked 20th the previous day in terms of percentage price change.