(Last Updated September 17, 2021 1:19 GMT)
Currently, EURTRY’s rate is down -0.21 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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)
EURTRY is up 1 pips (0.14%) since the day prior (opening today near 9.959212496), marking the 2nd straight day an increase has occurred. Relative to other instruments in the Forex asset class, EURTRY ranked 11th the day prior in terms of percentage price change. The price chart of EURTRY below illustrates.
EURTRY Technical Analysis
Coming into today EURTRY is now close to its 20, 50, 100 and 200 day averages, located at 9.8936, 9.9764, 10.1506 and 9.7353 respectively, and thus may be at a key juncture along those timeframes. 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 50 day average, which is 171.7 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 up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days EURTRY’s price has gone up 7 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.