EURTRY Down 1 Pips in Last Hour, Entered Today Down For the 3rd Straight Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated January 8, 2021 3:20 GMT)

At the moment, EURTRY’s rate is down -0.82 pips (-0.09%) from the hour prior. EURTRY has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURTRY is down 2 pips (0.19%) since the previous day (opening today near 8.9868), marking the 3rd straight day it has gone down. Relative to other instruments in the Forex asset class, EURTRY ranked 30th the previous day in terms of percentage price change. The price chart of EURTRY below illustrates.

EURTRY

EURTRY Technical Analysis

The first thing we should note is that EURTRY is now close to its 100 day moving averages, which may act as price barrier for the asset. 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 100 day average, which is 2052.8 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days EURTRY’s price has gone down 9 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.