EUR/USD Down 19 Pips; in a Downtrend Over Past 14 Days
Out of the 40 instruments in the forex asset class, eur/usd ended up ranking 29th for the day in terms of day-over-day price change.
EURUSD
(Last Updated March 4, 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 Unemployment Rate | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | 8.3% | 8.1% |
| Euro Area Retail Sales YoY | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | -1.2% | -6.4% |
| Euro Area Retail Sales MoM | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | -1.1% | -5.9% |
| United States Unit Labour Costs QoQ Final | Q4 2020 | US Dollar | USD | 2021-03-04 | 13:30 GMT | 6.6% | |
| United States Nonfarm Productivity QoQ Final | Q4 2020 | US Dollar | USD | 2021-03-04 | 13:30 GMT | -4.7% |
The Trend
On EURUSD, we don’t see a clear trend until the 90 day basis, where we see a very slight uptrend.
EURUSD Moving Averages
EURUSD’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 50) — are bullish, implying a upward trend, aside from a decline about 2 months prior.
Below is a chart showing EURUSD’s price with its moving averages.
In terms of correlations over the past week for EURUSD, it has been most correlated with USDSEK. If we zoom out to a two week basis, though, the asset showing the strongest correlation to EURUSD is AUDCAD. On the flip side, EURCAD has been the asset least correlated with EURUSD — the same as it has been over the past two weeks as well. 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 down -20 pips (-0.17%) from the week prior. EURUSD has seen its price go down 4 out of the past 5 weeks, thus creating some compelling opportunities for bears. 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.
EUR/USD Up 12 Pips, in a Downtrend Over Past 14 Days; Doji Pattern Appearing on Chart
The closest is the 20 day average, which is 150.6 pips away.
EUR/USD Down 43 Pips; in a Downtrend Over Past 30 Days
The closest is the 20 day average, which is 176.9 pips away.
EUR/USD Up 5 Pips; 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.
EUR/USD 6 Day Down Streak Ended; in a Downtrend Over Past 30 Days
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
EUR/USD 5 Day Down Streak Snapped; 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.
EUR/USD 4 Day Down Streak Ended; in a Downtrend Over Past 30 Days
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
EUR/USD Up 4 Pips, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
Modest buying occurred from 1.0879/1.0906 tuesday, recently forming a robust bullish candle that closed a whisker off its highs….
EUR/USD 2 Day Down Streak Snapped, in a Downtrend Over Past 30 Days; Price Base in Formation 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.