(Last Updated February 25, 2021 0:21 GMT)
At the moment, EURTRY’s rate is up 0.35 pips (0.04%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as EURTRY has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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)
EURTRY is up 10 pips (1.14%) since yesterday (opening today near 8.63134468), marking the 4th day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EURTRY ranked 6th yesterday in terms of percentage price change. The price chart of EURTRY below illustrates.
EURTRY Technical Analysis
Notably, EURTRY crossed above its 20 day moving average yesterday. 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 893.5 pips away. 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 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 10 out of the past 14 days.