EUR/TRY Down 285 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Nears 20 Day Moving Average

EUR/TRY 4 Hour Price Update

Updated June 25, 2020 01:15 PM GMT (09:15 AM EST)

The choppiness in the recent four-hour candle price action of EUR/TRY continues; to start the current 4 hour candle, it came in at a price of 7.6805, down 285 pips (0.37%) since the previous 4 hours. It may be worth observing that EUR/TRY was the worst performer of the 37 members in the Forex asset class over the past four-hour candle.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/TRY is down 71 pips (0.09%) since yesterday (opening today near 7.704185868), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, EUR/TRY ranked 34th yesterday in terms of percentage price change. Let’s take a look at price chart of EUR/TRY.

EUR/TRY Technical Analysis

Coming into today the current price of EUR/TRY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for EUR/TRY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 14 days EUR/TRY’s price has gone down 9 them.