EUR/TRY Makes Big Move Relative to Past Month, Heads Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days

EUR/TRY Price Recap

EUR/TRY is up 277 pips (0.42%) since yesterday (with its current price near 6.6396), marking the 2nd day in a row an upward move has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 31.75% from the day prior, and up 37.03% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/TRY ranked 8th yesterday in terms of percentage price change. Let’s take a look at price chart of EUR/TRY.

EUR/TRY Technical Analysis

The first thing we should note is that EUR/TRY is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 601.8 pips away. Volatility for EUR/TRY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days EUR/TRY’s price has gone up 15 them.

The View From Around the Web

Not much commentary on EURTRY that we’re finding noteworthy here; are y’all just scared to put out an opinion? 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.