"Forex Frank" is a forex trader and commentator focused primarily on technical analysis rooted in price action. Follow him on social media:
EUR/TRY Down 205 Pips Over Past 4 Hours, Underperforms All Forex; 9 Day Up Streak Broken
On a relative basis, eur/try was the worst performer out of all 40 of the assets in the forex asset class.
Forex Frank
USD/NOK Up 14 Pips On 4 Hour Chart, Came Into Today Up For the 2nd Day In A Row; in a Downtrend Over Past 90 Days
The closest is the 20 day average, which is 1536.8 pips away.
USD/ZAR Down 147 Pips On 4 Hour Chart, Nears 200 Day Moving Average; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the forex asset class, usd/zar ranked 30th the day prior in terms of percentage price change.
USD/SEK Down 58 Pips Over Past 4 Hours, Came Into Today Up For the 2nd Day In A Row; in a Downtrend Over Past 30 Days
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
USD/MXN Down 196 Pips in Last 4 Hours, Moves Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of fibonacci and triangle technical patterns.
USD/CAD Down 2 Pips in Last 4 Hours, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of demand zone and fibonacci technical patterns.
USD/JPY Up 2 Pips Over Past 4 Hours, Entered Today Down For the 3rd Day In A Row; in a Downtrend Over Past 14 Days
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
USD/CHF Up 1 Pips On 4 Hour Chart, Entered Today Down For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
EUR/SEK Down 30 Pips On 4 Hour Chart, Entered Today Up For the 2nd Day In A Row; in a Downtrend Over Past 30 Days
For additional context, note that price has gone up 7 out of the past 10 days.
NZD/JPY Up 9 Pips On 4 Hour Chart, in an Uptrend Over Past 90 Days; Eyes 50 Day Average
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.