(Last Updated January 12, 2021 2:20 GMT)
At the time of this writing, EURTRY’s rate is up 0.2 pips (0.02%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 100 hour changed directions on EURTRY; it is now pointing up. 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)
EURTRY is up 8 pips (0.92%) since the day prior (opening today near 9.07405), marking the 2nd straight day an upward move has occurred. Out of the 40 instruments in the Forex asset class, EURTRY ended up ranking 5th for the day in terms of price change. The price chart of EURTRY below illustrates.
EURTRY Technical Analysis
The first thing we should note is that the current price of EURTRY is sitting close to its 20 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 100 day average, which is 1261 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 17 out of the past 30 days.