EURTRY Up 1 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated November 20, 2020 2:18 GMT)

At the moment, EURTRY’s rate is up 0.67 pips (0.07%) from the hour prior. This is the 2nd straight hour EURTRY has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 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)

EURTRY is down 17 pips (1.9%) since the previous day (opening today near 8.9427), marking the 2nd consecutive day a decline has happened. Out of the 40 instruments in the Forex asset class, EURTRY ended up ranking 39th for the day in terms of price change. Here is a price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Notably, EURTRY is now close to its 100 day averages, located at 8.8012 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days EURTRY’s price has gone up 17 them.