EURTRY Down 1 Pips in Last Hour, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 11, 2020 16:16 GMT)

Currently, EURTRY’s rate is down -0.67 pips (-0.08%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 2 pips (0.27%) since the previous day (opening today near 8.83272), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, EURTRY gave its buyers a return that ranked 13th in terms of percentage change since the previous day. The price chart of EURTRY below illustrates.

EURTRY

EURTRY Technical Analysis

The first thing we should note is that the current price of EURTRY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 19 out of the past 30 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