EURTRY Up 1 Pips On Hourly Chart, 2 Day Up Streak Snapped; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated September 9, 2020 15:16 GMT)

Currently, EURTRY’s rate is up 1.27 pips (0.14%) 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. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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)

The choppiness in the recent daily price action of EURTRY continues; to start today, it came in at a price of 8.79367, down 1 pips (0.13%) since the day prior. Out of the 40 instruments in the Forex asset class, EURTRY ended up ranking 25th for the day in terms of price change. The price chart of EURTRY below illustrates.

EURTRY

EURTRY Technical Analysis

Notably, EURTRY is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram