(Last Updated October 14, 2020 2:17 GMT)
At the time of this writing, EURTRY’s rate is up 0.74 pips (0.08%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Price action traders may also wish to note that we see a doji candlestick pattern on EURTRY. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, with price now being above them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
EURTRY End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of EURTRY continues; to start today, it came in at a price of 9.297, down 2 pips (0.19%) since the previous day. Out of the 40 instruments in the Forex asset class, EURTRY ended up ranking 22nd for the day in terms of price change. Below is a price chart of EURTRY.
EURTRY Technical Analysis
The first thing we should note is that EURTRY is now close to its 20 day moving averages, which may act as price barrier for the asset. 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. For additional context, note that price has gone up 18 out of the past 30 days.