EURTRY Up 1 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Came Into Today Up For the 2nd Day In A Row

Hourly Update

(Last Updated September 3, 2021 2:18 GMT)

At the moment, EURTRY’s rate is up 0.61 pips (0.06%) 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. 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)

EURTRY is up 1 pips (0.06%) since yesterday (opening today near 9.822910544), marking the 2nd day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, EURTRY ended up ranking 17th for the day in terms of price change. The price chart of EURTRY below illustrates.

EURTRY

EURTRY Technical Analysis

Notably, EURTRY is now close to its 20, 50 and 200 day averages, located at 9.9122, 10.0339 and 9.6856 respectively, and thus may be at a key juncture along those timeframes. 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 893.3 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. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days EURTRY’s price has gone up 9 them.