(Last Updated October 19, 2020 10:17 GMT)
At the time of this writing, EURTRY’s rate is up 1.61 pips (0.17%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 doji candlestick pattern on EURTRY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 0 pips (0.05%) over the past day to close at an exchange rate of 9.2909. Out of the 40 instruments in the Forex asset class, EURTRY ended up ranking 16th for the day in terms of 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 20 day moving averages, which may act as price barrier for the asset. 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. Or to simplify this another way, note that out of the past 10 days EURTRY’s price has gone up 5 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.