EUR/TRY Down 95 Pips Over Past 4 Hours, Crosses 50 Day Moving Average; Pin Bar Pattern Appearing on Chart

EUR/TRY 4 Hour Price Update

Updated May 21, 2020 12:49 AM GMT (08:49 PM EST)

EUR/TRY, which opened the current 4 hour candle priced near 7.4484, is down 95 pips 0.13% since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 6 four-hour candle positive run. Compared to its peers in the Forex, EUR/TRY gave its buyers a return that ranked 35th in terms of percentage change since the last 4 hour candle.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/TRY, which started today off at 7.440753754, down 117 pips 0.16% from the day prior. Out of the 40 instruments in the Forex asset class, EUR/TRY ended up ranking 38th for the day in terms of price change. The price chart of EUR/TRY below illustrates.

EUR/TRY Technical Analysis

First things first: EUR/TRY crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. For additional context, note that price has gone down 17 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.