EURTRY Up 1 Pips in Last Hour; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated May 6, 2021 3:19 GMT)

At the time of this writing, EURTRY’s rate is up 0.73 pips (0.07%) from the hour prior. EURTRY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURTRY. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning 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)

The choppiness in the recent daily price action of EURTRY continues; to start today, it came in at a price of 9.979571875, down 2 pips (0.16%) since the previous day. Out of the 39 instruments in the Forex asset class, EURTRY ended up ranking 30th for the day in terms of price change. Here is a price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Notably, EURTRY is now close to its 20 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 20 day average, which is 1039.8 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days.