EUR/TRY Down 27 Pips On 4 Hour Chart, 3 Day Up Streak Broken; in an Uptrend Over Past 30 Days

EUR/TRY 4 Hour Price Update

Updated July 01, 2020 01:06 AM GMT (09:06 PM EST)

EUR/TRY is down 27 pips (0.04%) since the previous 4 hours (opening the current 4 hour candle near 7.6979), marking the 2nd candle in a row a decline has happened. Out of the 37 instruments in the Forex asset class, EUR/TRY ended up ranking 31st for the four-hour candle in terms of price change.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 up days, EUR/TRY snaps its streak, falling 180 pips (-0.23%) over the past day to close at an exchange rate of 7.6917817922. Out of the 40 instruments in the Forex asset class, EUR/TRY ended up ranking 30th for the day in terms of price change. Let’s take a look at price chart of EUR/TRY.

EUR/TRY Technical Analysis

First things first: EUR/TRY crossed below its 20 day moving average yesterday. 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 30 days EUR/TRY’s price has gone up 17 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.