EUR/TRY Down 0 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Breaks Above 20 Day Average

Hourly Update

(Last Updated September 8, 2022 1:39 GMT)

At the time of this writing, EURTRY’s rate is down -0.21 pips (-0.01%) from the hour prior. The hourly chart shows that EURTRY has seen 2 straight down hours. Regarding the trend, note that the strongest trend 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 an uptrend on the 20 and 10 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 choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

EURTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURTRY entered today at 18.2137998654, up 17 pips (0.93%) from yesterday. Out of the 39 instruments in the Forex asset class, EURTRY ended up ranking 8th for the day in terms of price change. Below is a price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURTRY crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. For additional context, note that price has gone up 18 out of the past 30 days.