EURTRY Up 0 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; Doji and Pin Bar Patterns Appearing on Chart

Hourly Update

(Last Updated September 7, 2020 15:16 GMT)

Currently, EURTRY’s rate is up 0.16 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 100 hour changed directions on EURTRY; it is now pointing down. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURTRY is up 1 pips (0.06%) since yesterday (opening today near 8.80495), marking the 2nd consecutive day it has gone up. Out of the 40 instruments in the Forex asset class, EURTRY ended up ranking 15th for the day in terms of price change. Below is a price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Notably, the current price of EURTRY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for EURTRY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram