(Last Updated September 14, 2020 23:16 GMT)
At the moment, EURTRY’s rate is up 0.33 pips (0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. 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 entered today at 8.84433, up 5 pips (0.57%) from yesterday. Relative to other instruments in the Forex asset class, EURTRY ranked 2nd 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 the current price of EURTRY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EURTRY’s price has gone up 8 them.