EUR/TRY Down 177 Pips Over Past 4 Hours, Moves Down For the 3rd Day In A Row; But Still in an Uptrend Over Past 90 Days

EUR/TRY 4 Hour Price Update

Updated May 12, 2020 12:54 AM GMT (08:54 PM EST)

The choppiness in the recent four-hour candle price action of EUR/TRY continues; to start the current 4 hour candle, it came in at a price of 7.64, down 177 pips (0.23%) since the last 4 hour candle. On a relative basis, EUR/TRY was the worst performer out of all 37 of the assets in the Forex asset class.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/TRY is down 140 pips (0.18%) since yesterday (opening today near 7.630037296), marking the 3rd day in a row a decrease has occurred. It may be worth observing that EUR/TRY was the worst performer of the 40 members in the Forex asset class over the past day. The price chart of EUR/TRY below illustrates.

EUR/TRY Technical Analysis

Notably, the current price of EUR/TRY is sitting close to its 20 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. Or to simplify this another way, note that out of the past 10 days EUR/TRY’s price has gone down 7 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURTRY; just 3 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

so guys im looking for a nice entry with good best RR. The market is now on its best ever High position. Look for a nice entry. it’s been late. There should be some risk. Take good entry.