EUR/TRY Up 12 Pips On 4 Hour Chart, Eyes 50 Day Average; Pin Bar Pattern Appearing on Chart

EUR/TRY 4 Hour Price Update

Updated June 04, 2020 01:12 AM GMT (09:12 PM EST)

The back and forth price flow continues for EUR/TRY, which started the current 4 hour candle off at 7.5614, up 12 pips 0.02% from the previous 4 hours. Relative to other instruments in the Forex asset class, EUR/TRY ranked 16th the previous 4 hours in terms of percentage price change.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/TRY entered today at 7.55991915, down 28 pips (0.04%) from yesterday. Out of the 40 instruments in the Forex asset class, EUR/TRY ended up ranking 34th for the day in terms of price change. The price chart of EUR/TRY below illustrates.

EUR/TRY Technical Analysis

Notably, EUR/TRY is now close to its 20 and 50 day averages, located at 7.4844 and 7.5244 respectively, and thus may be at a key juncture along those timeframes. 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 355.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone down 18 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURTRY; just 2 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.