EUR/TRY Up 0 Pips in Last Hour, Entered Today Down For the 2nd Day In A Row; Nears 50 Day Moving Average

Hourly Update

(Last Updated May 13, 2022 1:41 GMT)

Currently, EURTRY’s rate is up 0.15 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURTRY. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

EURTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURTRY is down 7 pips (0.45%) since the previous day (opening today near 15.9968973504), marking the 2nd day in a row a decrease has occurred. Compared to its peers in the Forex, EURTRY gave its buyers a return that ranked 22nd in terms of percentage change since the previous day. Let’s take a look at price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Notably, EURTRY 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 100.6 pips away. The clearest trend exists on the 90 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.