EUR/TRY Up 3 Pips On Hourly Chart, Came Into Today Up For the 5th Consecutive Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated November 15, 2021 1:39 GMT)

At the moment, EURTRY’s rate is up 3.15 pips (0.27%) from the hour prior. EURTRY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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 pin bar candlestick pattern on EURTRY. Given that we see an uptrend on the 20 and 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 7 pips (0.59%) since yesterday (opening today near 11.4817907607), marking the 5th consecutive day it has gone up. Out of the 39 instruments in the Forex asset class, EURTRY ended up ranking 3rd for the day in terms of price change. Below is a price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

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 9 them.