EURTRY Down 0 Pips in Last Hour, Crosses 50 Day Moving Average; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated September 15, 2021 1:18 GMT)

Currently, EURTRY’s rate is down -0.15 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURTRY has now gone down 8 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURTRY. Given that we see downtrend on the 10 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)

The back and forth price flow continues for EURTRY, which started today off at 9.943345305, down 6 pips 0.58% from the previous day. On a relative basis, EURTRY was the worst performer out of all 39 of the assets in the Forex asset class. Below is a price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURTRY crossed below its 50 day moving average yesterday. 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 50 day average, which is 375.2 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 up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days EURTRY’s price has gone up 7 them.