EURTRY Down 0 Pips in Last Hour, Fares the Worst Out of Forex; Makes Big Move Relative to Two Week Trend

Hourly Update

(Last Updated September 8, 2021 0:19 GMT)

Currently, EURTRY’s rate is down 0.05 pips (0%) from the hour prior. EURTRY has seen its price go down 4 out of the past 5 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 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURTRY. Given that we see an uptrend 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)

After 4 up days, EURTRY snaps its streak, falling 6 pips (-0.66%) over the past day to close at an exchange rate of 9.826159265. It may be worth observing that EURTRY was the worst performer of the 39 members in the Forex asset class over the past day. Let’s take a look at price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Notably, the current price of EURTRY is sitting close to its 20, 50 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 548.3 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days EURTRY’s price has gone up 19 them.