EUR/TRY Down 3 Pips in Last Hour; Eyes 20 Day Average

Hourly Update

(Last Updated September 16, 2022 1:41 GMT)

At the time of this writing, EURTRY’s rate is down -3.16 pips (-0.17%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURTRY. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

EURTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of EURTRY continues; to start today, it came in at a price of 18.245864125, up 3 pips (0.15%) since yesterday. Relative to other instruments in the Forex asset class, EURTRY ranked 15th yesterday in terms of percentage price change. The price chart of EURTRY below illustrates.

EURTRY

EURTRY Technical Analysis

Notably, EURTRY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.