(Last Updated November 17, 2020 2:18 GMT)
At the moment, EURTRY’s rate is up 0.52 pips (0.06%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. 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)
After 3 down days, EURTRY snaps its streak, rising 7 pips (0.79%) over the past day to close at an exchange rate of 9.1109. Relative to other instruments in the Forex asset class, EURTRY ranked 5th the previous day in terms of percentage price change. Let’s take a look at price chart of EURTRY.
EURTRY Technical Analysis
The first thing we should note is that EURTRY is now close to its 50 day averages, located at 9.2504 respectively, and thus may be at a key juncture along those timeframes. 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. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone up 18 out of the past 30 days.