(Last Updated September 10, 2021 2:18 GMT)
At the moment, EURTRY’s rate is down 0.01 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURTRY has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns 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 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 entered today at 9.9682232, down 3 pips (0.3%) from the previous day. Compared to its peers in the Forex, EURTRY gave its buyers a return that ranked 25th in terms of percentage change since the previous day. Here is a price chart of EURTRY.
EURTRY Technical Analysis
First things first: EURTRY crossed below its 50 day moving average yesterday. 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 50 day average, which is 222.8 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 9 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.