On a relative basis, eur/try was the worst performer out of all 40 of the assets in the forex asset class.
The closest is the 20 day average, which is 1536.8 pips away.
Relative to other instruments in the forex asset class, usd/zar ranked 30th the day prior in terms of percentage price change.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
As for the rationale, technical traders seem to be citing the appearance of fibonacci and triangle technical patterns.
As for the rationale, technical traders seem to be citing the appearance of demand zone and fibonacci technical patterns.
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
For additional context, note that price has gone up 7 out of the past 10 days.
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.