EUR/TRY Down 120 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 90 Days

EUR/TRY 4 Hour Price Update

Updated June 26, 2020 01:13 PM GMT (09:13 AM EST)

The choppiness in the recent four-hour candle price action of EUR/TRY continues; to start the current 4 hour candle, it came in at a price of 7.6848, down 120 pips (0.16%) since the last 4 hour candle. Out of the 37 instruments in the Forex asset class, EUR/TRY ended up ranking 34th for the four-hour candle in terms of price change.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/TRY is down 7 pips (0.01%) since yesterday (opening today near 7.6889628756), marking the 3rd day in a row a decline has happened. Compared to its peers in the Forex, EUR/TRY gave its buyers a return that ranked 36th in terms of percentage change since yesterday. Let’s take a look at price chart of EUR/TRY.

EUR/TRY Technical Analysis

Coming into today EUR/TRY is now close to its 20 and 50 day averages, located at 7.6852 and 7.6052 respectively, and thus may be at a key juncture along those timeframes. 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 30 day timeframe, which shows price moving up over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days EUR/TRY’s price has gone down 8 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.