EUR/USD Up 1 Pips On 4 Hour Chart, Nears 20 Day Moving Average; Pin Bar Pattern Appearing on Chart
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
(Last Updated July 2, 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
Nuances in the trend on EURUSD can be understood by observing the behavior of its moving averages. The 50 and 200 day averages suggest a bullish trend, as they are pointing upwards, in contrast to the downward-facing 20 and 100 day averages that imply a bearish trend.
The chart below illustrates.
In terms of correlations over the past week for EURUSD, it has been most correlated with NZDCHF. If we zoom out to a two week basis, though, the asset showing the strongest correlation to EURUSD is EURTRY. Alternatively, USDSEK has been the asset least correlated with EURUSD — but if we observe the prior two weeks, the asset least correlated with EURUSD has been GBPAUD. The chart below illustrates EURUSD against its least correlated assets.
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EUR/USD Down 1 Pips Over Past 4 Hours, in an Uptrend Over Past 90 Days; is Inching Close to 20 Day Average
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.
EUR/USD Down 1 Pips On 4 Hour Chart, Price Base in Formation Over Past 14 Days; Eyes 20 Day Average
For additional context, note that price has gone up 6 out of the past 10 days.
EUR/USD Up 3 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 10 days eur/usd’s price has gone up 6 them.
EUR/USD Down 3 Pips On 4 Hour Chart, Moves Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
EUR/USD Down 0 Pips On 4 Hour Chart, Came Into Today Up For the 2nd Day In A Row; is Inching Close to 20 Day Average
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
EUR/USD Down 18 Pips Over Past 4 Hours, 2 Day Down Streak Snapped; Eyes 20 Day Average
This imputes a buy/sell ratio of 1.62, which is bullish.
EUR/USD Down 36 Pips On 4 Hour Chart; is Inching Close to 20 Day Average
This imputes a buy/sell ratio of 1.75, which is bullish.
EUR/USD Down 17 Pips On 4 Hour Chart, Moves Up For the 4th Day In A Row; Nears 20 Day Moving Average
Volatility for eur/usd has been contracting over the past two weeks relative to volatility over the past month.
EUR/USD Up 7 Pips On 4 Hour Chart, Moves Up For the 3rd Day In A Row; is Inching Close to 20 Day Average
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.