(Last Updated April 9, 2021 3:19 GMT)
Currently, EURTRY’s rate is up 0.87 pips (0.09%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. 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 3 pips (0.33%) since the previous day (opening today near 9.684874993), marking the 3rd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, EURTRY ranked 5th the previous day in terms of percentage price change. Below is a price chart of EURTRY.
EURTRY Technical Analysis
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 2394.5 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 up over that time. For additional context, note that price has gone up 8 out of the past 14 days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.