EURTRY Up 1 Pips On Hourly Chart, Moves Down For the 2nd Straight Day; Doji and Pin Bar Patterns Appearing on Chart

Hourly Update

(Last Updated March 26, 2021 23:20 GMT)

At the time of this writing, EURTRY’s rate is up 1.02 pips (0.11%) from the hour prior. The hourly chart shows that EURTRY has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURTRY. Given that we see downtrend on the 20 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 20, 50, 100 and 200 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 down 0 pips (0.04%) since the previous day (opening today near 9.350207116), marking the 2nd straight day a decline has happened. Out of the 39 instruments in the Forex asset class, EURTRY ended up ranking 33rd for the day in terms of price change. Here is a price chart of EURTRY.

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 2818.6 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone down 7 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.