EUR/TRY Down 5 Pips On 4 Hour Chart, Came Into Today Up For the 2nd Day In A Row; Price Base in Formation Over Past 14 Days

EUR/TRY 4 Hour Price Update

Updated June 29, 2020 09:08 PM GMT (05:08 PM EST)

EUR/TRY is down 5 pips (0.01%) since the previous 4 hours (opening the current 4 hour candle near 7.703), marking the 2nd candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EUR/TRY ranked 21st the previous 4 hours in terms of percentage price change.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/TRY is up 13 pips (0.02%) since yesterday (opening today near 7.686547684), marking the 2nd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EUR/TRY ranked 27th yesterday in terms of percentage price change. Below is a price chart of EUR/TRY.

EUR/TRY Technical Analysis

Notably, the current price of EUR/TRY is sitting close to its 20 and 50 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days EUR/TRY’s price has gone down 6 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!