EUR/TRY 4 Day Down Streak Broken, Crosses 20 Day Moving Average; in an Uptrend Over Past 90 Days

EUR/TRY Price Recap

EUR/TRY is up 71 pips (0.11%) since yesterday (with its current price near 6.5729), marking the 2nd day in a row an increase has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 21.02% from the day prior, but down 30.32% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/TRY ranked 16th yesterday in terms of percentage price change. Let’s take a look at price chart of EUR/TRY.

EUR/TRY Technical Analysis

Notably, EUR/TRY crossed above its 20 day moving average yesterday. 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 up 7 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.