EUR/TRY Down 44 Pips Over Past 4 Hours, Moves Up For the 3rd Day In A Row; Price Base in Formation Over Past 14 Days

EUR/TRY 4 Hour Price Update

Updated June 30, 2020 09:12 PM GMT (05:12 PM EST)

The back and forth price flow continues for EUR/TRY, which started the current 4 hour candle off at 7.7006, down 44 pips 0.06% from the previous 4 hours. Out of the 37 instruments in the Forex asset class, EUR/TRY ended up ranking 25th for the four-hour candle in terms of price change.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/TRY is up 19 pips (0.03%) since yesterday (opening today near 7.7040566784), marking the 3rd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, EUR/TRY ended up ranking 25th for the day in terms of price change. The price chart of EUR/TRY below illustrates.

EUR/TRY Technical Analysis

The first thing we should note is that the current price of EUR/TRY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for EUR/TRY 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 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 8 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!