(Last Updated November 11, 2021 3:18 GMT)
At the time of this writing, EURTRY’s rate is up 0.12 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURTRY. Given that we see an uptrend 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)
EURTRY is up 2 pips (0.22%) since the previous day (opening today near 11.298926529), marking the 2nd day in a row an upward move has occurred. Out of the 39 instruments in the Forex asset class, EURTRY ended up ranking 16th for the day in terms of price change. Below is a price chart of EURTRY.
EURTRY Technical Analysis
Coming into today 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. 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. For additional context, note that price has gone up 6 out of the past 10 days. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for EURTRY; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
I’m just messing about with parabolic curves on EUR/TRY.Do not buy, sell or hold in accordance to this chart. None of the graphics, drawings and explanations on this page do not include investment advice.