EURUSD Down 3 Pips Over Past Hour, Moves Up For the 3rd Consecutive Day; in an Uptrend Over Past 30 Days
This is a reversal of the price action on the previous hour, in which price moved up.
EURUSD
(Last Updated January 18, 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 |
|---|---|---|---|---|---|---|---|
| Euro Area Eurogroup Video Conference | NA | Euro | EUR | 2021-01-18 | 08:00 GMT | ||
| Euro Area ECB President Lagarde Speech | NA | Euro | EUR | 2021-01-18 | 08:00 GMT | ||
| European Union New Car Registrations YoY | Dec 2020 | Euro | EUR | 2021-01-19 | 07:00 GMT | ||
| Euro Area Construction Output YoY | Nov 2020 | Euro | EUR | 2021-01-19 | 10:00 GMT | ||
| Euro Area ZEW Economic Sentiment Index | Jan 2021 | Euro | EUR | 2021-01-19 | 10:00 GMT |
The Trend
As for trends on EURUSD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 and 30 day timeframes. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
EURUSD Moving Averages
The moving averages on EURUSD summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bullish, implying a upward trend, aside from a decline about 3 weeks prior. Moreover, it should also be noted that the 20 SMA just turned bearish today.
The chart below illustrates.
Regarding EURUSD’s correlations over the past 7 days, it has been most correlated with USDSEK. EURUSD has been most correlated with USDSEK over the past 14 days also, so this may be a structural correlation in the market. Alternatively, the asset least correlated with EURUSD over the past week has been ZARJPY, but if we observe the prior two weeks, the asset least correlated with EURUSD has been NZDCHF. The chart below illustrates EURUSD against its least correlated assets.
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The View From the Weekly Timeframe
At the moment, EURUSD’s rate is down -144 pips (-1.18%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. As for the trend on the weekly timeframe, we see the clearest trend 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. The weekly chart below shows EURUSD’s price action over the past year.
EURUSD: The Monthly View
Strongest trend on the 120 month timeframe.
EURUSD Up 14 Pips in Last Hour, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
EURUSD Up 5 Pips Over Past Hour, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
EURUSD Down 9 Pips On Hourly Chart, 3 Day Up Streak Snapped; in an Uptrend Over Past 90 Days
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
EURUSD Down 5 Pips On Hourly Chart, 3 Day Up Streak Broken; in an Uptrend Over Past 30 Days
Compared to its peers in the forex, eurusd gave its buyers a return that ranked 37th in terms of percentage change since yesterday.
EURUSD Up 10 Pips On Hourly Chart; Came Into Today Up For the 3rd Straight Day
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
EURUSD Up 16 Pips Over Past Hour, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days
Volatility for eurusd has been contracting over the past two weeks relative to volatility over the past month.
EURUSD Up 6 Pips On Hourly Chart; in an Uptrend Over Past 14 Days
It’s been a feast for bulls operating on an hourly timeframe, as eurusd has now gone up 4 of the past 5 hours.
EURUSD Down 14 Pips in Last Hour, in an Uptrend Over Past 14 Days; Eyes 20 Day Average
Relative to other instruments in the forex asset class, eurusd ranked 25th yesterday in terms of percentage price change.
EURUSD Down 1 Pips On Hourly Chart, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.