EURTRY Down 1 Pips in Last Hour, Tops All Forex; Makes Big Move Relative to Two Week Trend

Hourly Update

(Last Updated September 18, 2020 23:16 GMT)

At the time of this writing, EURTRY’s rate is down -0.93 pips (-0.1%) from the hour prior. The hourly chart shows that EURTRY has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

The choppiness in the recent daily price action of EURTRY continues; to start today, it came in at a price of 8.94192, up 9 pips (1.03%) since the previous day. EURTRY outperformed all 40 assets in the Forex asset class the previous day. Below is a price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

The first thing we should note is that EURTRY is now close to its 20 day averages, located at 8.7816 respectively, and thus may be at a key juncture along those timeframes. 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. 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 6 out of the past 10 days.


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