EUR/TRY Down 1 Pips Over Past Hour, Came Into Today Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated October 5, 2020 16:25 GMT)

At the time of this writing, EURTRY’s rate is down -0.0122 (-0.13%) from the hour prior. This is the 2nd hour in a row EURTRY has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Of note is that the 100 hour changed directions on EURTRY; it is now pointing down. 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 1 pips (0.09%) since yesterday (opening today near 9.0827), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, EURTRY gave its buyers a return that ranked 12th in terms of percentage change since yesterday. The price chart of EURTRY below illustrates.

EURTRY

EURTRY Technical Analysis

Coming into today EURTRY is now close to its 20 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.