EUR/TRY Down 151 Pips On 4 Hour Chart, 4 Day Down Streak Snapped; in an Uptrend Over Past 90 Days

EUR/TRY 4 Hour Price Update

Updated May 14, 2020 09:08 AM GMT (05:08 AM EST)

EUR/TRY is down 151 pips (0.2%) since the previous 4 hours (opening the current 4 hour candle near 7.5288), marking the 2nd candle in a row it has gone down. It may be worth observing that EUR/TRY was the worst performer of the 37 members in the Forex asset class over the past four-hour candle.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 4 down days, EUR/TRY snaps its streak, rising 13 pips (0.02%) over the past day to close at an exchange rate of 7.5438903628. Relative to other instruments in the Forex asset class, EUR/TRY ranked 21st yesterday in terms of percentage price change. Below is a price chart of EUR/TRY.

EUR/TRY Technical Analysis

The first thing we should note is that 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. 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.