EUR/TRY Down 1 Pips in Last Hour, Tops All Forex; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated December 16, 2021 1:41 GMT)

At the time of this writing, EURTRY’s rate is down -0.68 pips (-0.04%) 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 50 hour timeframe. 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 is up 50 pips (3.1%) since the previous day (opening today near 16.7332798906), marking the 2nd straight day an upward move has occurred. EURTRY outperformed all 39 assets in the Forex asset class the previous day. Let’s take a look at price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Volatility for EURTRY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days EURTRY’s price has gone up 6 them.