EURUSD

(Last Updated May 28, 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

A trend/countertrend situation exists on EURUSD, in which an uptrend exists on shorter timeframes but a downtrend appears 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.

EURUSD Moving Averages

The moving averages on EURUSD summarize its price action in an interesting way. The 20 and 200 day averages suggest a bullish trend, as they are pointing upwards, 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.

As for correlation, In terms of correlations over the past week for EURUSD, it has been most correlated with EURJPY. EURJPY is the asset with which EURUSD has been most correlated with over the past two weeks as well, so this may be a recurring pattern. On the flip side, EURGBP has been the asset least correlated with EURUSD — but if we observe the prior two weeks, GBPCHF has been the asset least correlated with EURUSD. 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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