EURTRY Up 2 Pips Over Past Hour, Underperforms All Forex; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated November 12, 2020 22:18 GMT)

Currently, EURTRY’s rate is up 2.48 pips (0.27%) from the hour prior. The hourly chart shows that EURTRY has seen 3 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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)

The back and forth price flow continues for EURTRY, which started today off at 9.1591, down 47 pips 4.87% from the day prior. It may be worth observing that EURTRY was the worst performer of the 40 members in the Forex asset class over the past day. Let’s take a look at price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Notably, EURTRY crossed below its 20 and 50 day moving averages yesterday. 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. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days EURTRY’s price has gone up 20 them. We’re also seeing a bearish engulfing pattern form over the past two candles, which suggests the uptrend on the 90 and 30 day