EUR/TRY Underperforms All Forex, Down 1509 Pips; But Still in an Uptrend Over Past 30 Days

EUR/TRY Price Recap

The back and forth price flow continues for EUR/TRY, which starts today off at 7.0346 US dollars, down 1509 pips 2.1% from the previous day. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 19.19% from the day before — and down 57.43% from the same day the week before. On a relative basis, EUR/TRY was the worst performer out of all 40 of the assets in the Forex asset class. Visually, we could say…

via GIPHY

Anyway, without further ado, here is a price chart of EUR/TRY.

EUR/TRY Technical Analysis

The clearest trend exists on the 30 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 17 them.

A final note on correlations: over the past week, EUR/TRY has been most correlated with EUR/SEK — a common occurrence, given the presence of EUR in both currency pairs. As for pairs with the least correlation, USD/HKD is the pair that holds that distinction for the past week, while GBP/NZD does on a two week basis.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURTRY; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.