(Last Updated March 16, 2021)
Welcome to the news page for EURTRY (EURTRY). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Euro Area ECB Enria Speech | NA | Euro | EUR | 2021-03-16 | 11:00 GMT | ||
| Euro Area Inflation Rate YoY Final | Feb 2021 | Euro | EUR | 2021-03-17 | 10:00 GMT | 0.9% | |
| Euro Area Core Inflation Rate YoY Final | Feb 2021 | Euro | EUR | 2021-03-17 | 10:00 GMT | 1.1% | |
| Euro Area Construction Output YoY | Jan 2021 | Euro | EUR | 2021-03-17 | 10:00 GMT | ||
| European Union New Car Registrations YoY | Feb 2021 | Euro | EUR | 2021-03-18 | 07:00 GMT |
As for trends on EURTRY, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
The moving averages on EURTRY summarize its price action in an interesting way. The 20 and 200 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 50 and 100 day averages that imply a bearish trend. Moreover, today we saw the 50 moving average turn bearish.
Below is a chart showing EURTRY’s price with its moving averages.
Regarding EURTRY’s correlations over the past 7 days, it has been most correlated with TRYJPY. EURTRY has been most correlated with TRYJPY over the past 14 days also, so this may be a structural correlation in the market. On the flip side, EURNZD has been the asset least correlated with EURTRY — but over the past two weeks, AUDCHF has been the asset least correlated with EURTRY. See the chart below to observe the recent price action in EURTRY versus those of assets it hasn’t been well correlated with.
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Currently, EURTRY’s rate is up 8.11 pips (0.9%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as EURTRY has now gone up 4 of the past 5 weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURTRY. Given that we see downtrend on the 20 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly 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’s weekly price action over the past 52 weeks can be seen via the chart below.
Strongest trend on the 60 month timeframe.
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
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.
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 2044.9 pips away.
Relative to other instruments in the forex asset class, eurtry ranked 5th the previous day in terms of percentage price change.
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
Volatility for eurtry has been contracting over the past two weeks relative to volatility over the past month.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
This is the 2nd hour in a row eurtry has seen its price head up.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.