EUR/TRY Down 209 Pips; in an Uptrend Over Past 30 Days

EUR/TRY Price Recap

The back and forth price flow continues for EUR/TRY, which starts today off at 6.6578 US dollars, down 209 pips 0.31% from the previous day. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 43.77% from the day prior, and up 11.35% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/TRY ended up ranking 22nd for the day in terms of day-over-day price change. Let’s take a look at price chart of EUR/TRY.

EUR/TRY Technical Analysis

Coming into today EUR/TRY is now close to its 20 day averages, located at 6.5321 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 1256.8 pips away. Volatility for EUR/TRY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 20 out of the past 30 days.