(Last Updated October 6, 2020 15:16 GMT)
At the time of this writing, EURTRY’s rate is down -1.08 pips (-0.12%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
EURTRY End of Day Recap
Updated 00:30 GMT (04:30 EST)
EURTRY is up 6 pips (0.7%) since yesterday (opening today near 9.1462), marking the 3rd straight day an increase has occurred. Relative to other instruments in the Forex asset class, EURTRY ranked 6th yesterday in terms of percentage price change. The price chart of EURTRY below illustrates.
EURTRY Technical Analysis
The first thing we should note is that EURTRY is now close to its 20 day averages, located at 8.9525 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days EURTRY’s price has gone up 7 them.