EURUSD Up 4 Pips On Hourly Chart, Breaks Below 100 Day Average; in an Uptrend Over Past 14 Days
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
(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 Up 1 Pips in Last Hour, Crosses 100 Day Moving Average; Pin Bar Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 10 days eurusd’s price has gone up 5 them.
EURUSD Down 4 Pips Over Past Hour; Breaks Above 100 Day Average
It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe.
EURUSD Down 5 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Eyes 50 and 200 Day Averages
Relative to other instruments in the forex asset class, eurusd ranked 20th the previous day in terms of percentage price change.
EURUSD Down 8 Pips in Last Hour, 3 Day Up Streak Ended; is Inching Close to 50 and 200 Day Averages
The closest is the 200 day average, which is 24.5 pips away.
EURUSD Down 13 Pips On Hourly Chart, Moves Up For the 3rd Day In A Row; is Inching Close to 50 and 200 Day Averages
This move is a reversal from the hour prior, which saw price move up.
EURUSD Up 3 Pips Over Past Hour, Entered Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
EURUSD Down 4 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Eyes 50 and 200 Day Averages
The closest is the 200 day average, which is 28.3 pips away.
EURUSD Down 0 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Nears 50 and 200 Day Moving 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 up.
EURUSD Down 11 Pips Over Past Hour; is Inching Close to 50 and 200 Day Averages
Price action traders may also wish to note that we see a doji candlestick pattern on eurusd.