EURUSD Down 5 Pips Over Past Hour, in an Uptrend Over Past 90 Days; is Inching Close to 20 and 50 Day Averages
This is a reversal of the price action on the previous hour, in which price moved up.
EURUSD
(Last Updated October 22, 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
For EURUSD, we have to zoom out to the 90 day timeframe and beyond to see a clear trend; at that point, a clear uptrend becomes apparent.
EURUSD Moving Averages
The moving averages on EURUSD indicate a trend that is clearly bullish. Moreover, today we saw the 20 moving average turn bullish.
Below is a chart showing EURUSD’s price with its moving averages.
In terms of correlations over the past week for EURUSD, it has demonstrated the strongest correlation 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. Alternatively, NZDJPY has been the asset least correlated with EURUSD — but over the past two weeks, the asset least correlated with EURUSD has been EURCHF. See the chart below to observe the recent price action in EURUSD versus those of assets it hasn’t been well correlated with.
.
The View From the Weekly Timeframe
At the time of this writing, EURUSD’s rate is up 0.0108 (0.92%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. 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 120 month timeframe.
EURUSD Up 2 Pips On Hourly Chart, Crosses 20 Day Moving Average; in an Uptrend Over Past 90 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 10 Pips Over Past Hour, Breaks Above 20 Day Average; in a Downtrend Over Past 30 Days
This imputes a buy/sell ratio of 1.04, which is neutral.
EUR/USD Up 2 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Nears 20 Day Moving Average
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 Up 2 Pips in Last Hour, Breaks Above 20 Day Average; in an Uptrend Over Past 90 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.
EUR/USD Up 7 Pips On Hourly Chart, 2 Day Up Streak Snapped; Social Sentiment Biased Towards Selling
Compared to its peers in the forex, eurusd gave its buyers a return that ranked 25th in terms of percentage change since the day prior.
EURUSD Down 1 Pips Over Past Hour, 2 Day Up Streak Ended; in a Downtrend Over Past 14 Days
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
EURUSD Up 7 Pips On Hourly Chart, Entered Today Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
EURUSD Down 1 Pips in Last Hour; in an Uptrend Over Past 90 Days
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
EURUSD Down 2 Pips in Last Hour, 4 Day Down Streak Ended; in an Uptrend Over Past 90 Days
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.