EURUSD

(Last Updated September 21, 2020)

Hello! This is the news page for EURUSD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

On EURUSD, we don’t see a clear trend until the 90 day basis, where we see a clear uptrend.

EURUSD Moving Averages

EURUSD’s moving averages suggest the trend on a number of time horizons is bullish. Moreover, today we saw the 20 moving average turn bullish.

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 EURCAD. If we zoom out to a two week basis, though, the asset showing the strongest correlation to EURUSD is AUDUSD. Alternatively, USDJPY has been the asset least correlated with EURUSD — but if we observe the prior two weeks, the asset least correlated with EURUSD has been CADCHF. See the chart below to observe the recent price action in EURUSD versus those of assets it hasn’t been well correlated with.

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The View From the Weekly Timeframe

Currently, EURUSD’s rate is down -0.0006 (-0.05%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURUSD. Given that we see an uptrend on the 20 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The weekly chart below shows EURUSD’s price action over the past year.