EUR/TRY 2 Day Down Streak Broken, Breaks Above 20 and 50 Day Averages; in an Uptrend Over Past 90 Days

EUR/TRY Price Recap

6.57192 (USD) was the opening price of the day for EUR/TRY, resulting in yesterday being a day in which price moved up 293 pips 0.45% from the day prior. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 1.82% from the day prior, but up 46.49% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/TRY ranked 11th yesterday in terms of percentage price change. Below is a price chart of EUR/TRY.

EUR/TRY Technical Analysis

Notably, EUR/TRY crossed above its 20 and 50 day moving averages yesterday. Something else of critical noteworthiness is that EUR/TRY’s momentum/trend on a 14 day basis may be decelerating. Volatility for EUR/TRY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 8 out of the past 14 days.