(Last Updated April 27, 2021 22:19 GMT)
At the time of this writing, EURTRY’s rate is up 2.24 pips (0.23%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. 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, which opened today priced near 9.993720992, is down 18 pips 1.79% since the day prior, marking a reversal from the day prior — and the end of a 8 day positive run. On a relative basis, EURTRY was the worst performer out of all 39 of the assets in the Forex asset class. Below is a price chart of EURTRY.
EURTRY Technical Analysis
The first thing we should note is that the current price of EURTRY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 2328.7 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 19 out of the past 30 days.