EURTRY Down 0 Pips Over Past Hour, Entered Today Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated September 10, 2020 16:16 GMT)

At the moment, EURTRY’s rate is down -0.4 pips (-0.05%) from the hour prior. EURTRY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 2 pips (0.27%) since the day prior (opening today near 8.83272), marking the 2nd day in a row an increase has occurred. Out of the 40 instruments in the Forex asset class, EURTRY ended up ranking 13th for the day in terms of price change. The price chart of EURTRY below illustrates.

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. Or to simplify this another way, note that out of the past 14 days EURTRY’s price has gone up 8 them.


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