EURTRY Down 0 Pips in Last Hour, Price Base in Formation Over Past 90 Days; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated April 6, 2021 2:19 GMT)

Currently, EURTRY’s rate is down -0.3 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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)

The choppiness in the recent daily price action of EURTRY continues; to start today, it came in at a price of 9.568472017, down 6 pips (0.64%) since yesterday. Relative to other instruments in the Forex asset class, EURTRY ranked 37th yesterday in terms of percentage price change. Here is a price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Coming into today EURTRY is now close to its 20 day averages, located at 9.343 respectively, and thus may be at a key juncture along those timeframes. 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 2254.6 pips away. 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 30 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days EURTRY’s price has gone down 16 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!