EUR/TRY Down 0 Pips in Last Hour; Moves Down For the 2nd Day In A Row

Hourly Update

(Last Updated November 13, 2020 1:31 GMT)

Currently, EURTRY’s rate is down -0.0002 (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURTRY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURTRY is down 12 pips (1.26%) since the previous day (opening today near 9.0438), marking the 2nd day in a row a decrease has occurred. Compared to its peers in the Forex, EURTRY gave its buyers a return that ranked 39th in terms of percentage change since the previous day. Let’s take a look at price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Notably, EURTRY is now close to its 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days EURTRY’s price has gone up 7 them.