EUR/USD Down 3 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; is Inching Close to 20 Day Average
This move is a reversal from the hour prior, which saw price move up.
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 3 Pips in Last Hour, is Inching Close to 20 Day Average; Pin Bar Pattern Appearing on Chart
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 Down 3 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Entered Today Down For the 3rd Straight Day
This is a reversal of the price action on the previous hour, in which price moved up.
EURUSD Down 1 Pips On Hourly Chart, Moves Down For the 2nd Straight Day; Eyes 20 Day Average
The closest is the 20 day average, which is 21.3 pips away.
EURUSD Up 1 Pips in Last Hour, 2 Day Up Streak Ended; in a Downtrend Over Past 30 Days
Volatility for eurusd has been contracting over the past two weeks relative to volatility over the past month.
EURUSD Down 2 Pips On Hourly Chart; in a Downtrend 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 Up 2 Pips Over Past Hour; in a Downtrend Over Past 14 Days
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.
EURUSD Up 6 Pips in Last Hour, in a Downtrend Over Past 30 Days; Doji and Pin Bar Patterns Appearing on Chart
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 Up 2 Pips Over Past Hour, Moves Down For the 3rd Consecutive Day; in a Downtrend Over Past 30 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 Up 5 Pips Over Past Hour, Moves Down For the 2nd Day In A Row; in a Downtrend Over Past 30 Days
The closest is the 20 day average, which is 113.5 pips away.