(Last Updated March 2, 2021 22:19 GMT)
At the moment, EURTRY’s rate is up 0.22 pips (0.02%) from the hour prior. This is the 2nd straight hour EURTRY has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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)
A moment of silence, please, for the end of EURTRY’s 7 day up streak; price ended the day prior down 19 pips (-2.16%) to finish the day at a rate of 8.76720912. On a relative basis, EURTRY was the worst performer out of all 39 of the assets in the Forex asset class. Let’s take a look at price chart of EURTRY.
EURTRY Technical Analysis
Moving average crossovers are always interesting, so let’s start there: EURTRY crossed below its 50 and 200 day moving averages yesterday. 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 50 day average, which is 566.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days EURTRY’s price has gone up 16 them. Also, candlestick traders! Note we see evening star pattern appearing here as well.