EURTRY Down 1 Pips in Last Hour, 2 Day Up Streak Ended; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated February 16, 2021 23:20 GMT)

At the moment, EURTRY’s rate is down -1.17 pips (-0.14%) from the hour prior. The hourly chart shows that EURTRY has seen 2 straight down 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 doji 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. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

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 8.440817536, down 9 pips (1%) since the day prior. Out of the 39 instruments in the Forex asset class, EURTRY ended up ranking 38th for the day in terms of price change. The price chart of EURTRY below illustrates.

EURTRY

EURTRY Technical Analysis

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 2484.8 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. For additional context, note that price has gone up 5 out of the past 10 days.