EUR/TRY Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days

EUR/TRY Price Recap

EUR/TRY is up 704 pips (1.01%) since yesterday (with its current price near 7.0691), 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 19.42% from the day prior, and up 120.69% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/TRY ended up ranking 13th for the day in terms of day-over-day price change. The price chart of EUR/TRY below illustrates.

EUR/TRY Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days.

A final note on correlations: in the recent most week, TRY/JPY has been the pair most correlated with EUR/TRY — a frequent scenario, considering TRY finds itself in both pairs. As for pairs with the least correlation, ZAR/JPY is the pair that holds that distinction for the past week, while TRY/JPY does on a two week basis.