EUR/USD Up 1 Pips Over Past Hour, Makes Big Move Relative to Past Month; Moves Down For the 2nd 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.
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 8 Pips in Last Hour, 3 Day Up Streak Broken; Crosses 100 and 200 Day Moving Averages
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.
EURUSD Down 1 Pips Over Past Hour, Makes Big Move Relative to Past Month; Crosses 100 and 200 Day Moving Averages
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
EURUSD Down 2 Pips in Last Hour, Entered Today Up For the 3rd Day In A Row; Nears 20 and 50 Day Moving Averages
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
EURUSD Down 2 Pips in Last Hour, Came Into Today Up For the 2nd Straight Day; Price Base in Formation Over Past 30 Days
Price action traders may also wish to note that we see a pin bar candlestick pattern on eurusd.
EURUSD Up 2 Pips in Last Hour, 2 Day Down Streak Broken; in an Uptrend Over Past 90 Days
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.
EURUSD Up 2 Pips On Hourly Chart, is Inching Close to 20 and 50 Day Averages; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 17 out of the past 30 days.
EURUSD Up 1 Pips On Hourly Chart, Eyes 20 and 50 Day Averages; Pin Bar Pattern Appearing on Chart
This is a reversal of the price action on the previous hour, in which price moved down.
EURUSD Down 1 Pips in Last Hour, Nears 20 and 50 Day Moving Averages; Doji Pattern Appearing on Chart
It’s been a feast for bears operating on an hourly timeframe, as eurusd has now gone down 4 of the past 5 hours.
EURUSD Up 14 Pips On Hourly Chart, in an Uptrend Over Past 30 Days; Nears 20 Day Moving Average
Given that we see an uptrend on the 10 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.