(Last Updated February 12, 2021 17:24 GMT)
At the moment, EURTRY’s rate is up 0.19 pips (0.02%) from the hour prior. EURTRY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURTRY. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 5 hourly candle timeframe, so the meaning of the candles may require further exploration. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
EURTRY End of Day Recap
Updated 00:30 GMT (04:30 EST)
EURTRY is down 3 pips (0.31%) since the previous day (opening today near 8.51992691), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, EURTRY gave its buyers a return that ranked 34th in terms of percentage change since the previous day. The price chart of EURTRY below illustrates.
EURTRY Technical Analysis
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. The closest is the 20 day average, which is 2454.5 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 10 days.