EUR/TRY Down 65 Pips in Last 4 Hours, Moves Down For the 4th Day In A Row; Nears 20 Day Moving Average

EUR/TRY 4 Hour Price Update

Updated May 13, 2020 01:06 AM GMT (09:06 PM EST)

EUR/TRY entered the current 4 hour candle at 7.5907, down 65 pips (0.09%) from the last 4 hour candle. Compared to its peers in the Forex, EUR/TRY gave its buyers a return that ranked 24th in terms of percentage change since the last 4 hour candle.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/TRY is down 51 pips (0.07%) since the previous day (opening today near 7.5839247681), marking the 4th day in a row a decrease has occurred. Compared to its peers in the Forex, EUR/TRY gave its buyers a return that ranked 35th in terms of percentage change since the previous day. Below is a price chart of EUR/TRY.

EUR/TRY Technical Analysis

Notably, EUR/TRY is now close to its 20 day averages, located at 7.6172 respectively, and thus may be at a key juncture along those timeframes. 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 10 days EUR/TRY’s price has gone down 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURTRY, with 1 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.25, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

EURTRY has been approaching its all time high and hit into the bearish bat.Here we got a weekly shooting star broke to the downside, I would kinda love to take some short this week.Tiny position would be fine to try to hold as long as possible as a carry trade.Let’s see how it goes yo!