EUR/TRY Down 235 Pips, Crosses 20 and 50 Day Moving Averages; in an Uptrend Over Past 90 Days

EUR/TRY Price Recap

6.5494 (USD) was the opening price of the day for EUR/TRY, resulting in yesterday being a day in which price moved down 235 pips 0.36% from the day prior. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 8.89% from the day prior, but down 2.62% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/TRY ended up ranking 32nd for the day in terms of day-over-day price change. Here is a price chart of EUR/TRY.

EUR/TRY Technical Analysis

First things first: EUR/TRY crossed below its 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days EUR/TRY’s price has gone down 16 them.