EURTRY Up 1 Pips Over Past Hour, Fares the Worst Out of Forex; 3 Day Up Streak Broken

Hourly Update

(Last Updated January 14, 2021 2:20 GMT)

At the time of this writing, EURTRY’s rate is up 0.86 pips (0.1%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as EURTRY has now gone up 5 of the past 5 hours. Regarding the trend, note that the strongest trend 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 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 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, which opened today priced near 8.996, is down 9 pips 1.04% since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Those trading within the Forex asset class should know that EURTRY was the worst performer in the class. The price chart of EURTRY below illustrates.

EURTRY

EURTRY Technical Analysis

Coming into today EURTRY is now close to its 20 and 100 day averages, located at 9.1762 and 9.2078 respectively, and thus may be at a key juncture along those timeframes. 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 1802.3 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EURTRY’s price has gone up 6 them.