(Last Updated February 19, 2021 0:21 GMT)
Currently, EURTRY’s rate is down -1.05 pips (-0.12%) from the hour prior. EURTRY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 an uptrend 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)
The back and forth price flow continues for EURTRY, which started today off at 8.392753845, down 6 pips 0.68% from the day prior. Relative to other instruments in the Forex asset class, EURTRY ranked 38th the day prior in terms of percentage price change. Below is a price chart of EURTRY.
EURTRY Technical Analysis
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 2362.5 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 down 17 out of the past 30 days.