EUR/TRY Down 79 Pips in Last 4 Hours, 5 Day Down Streak Snapped; in an Uptrend Over Past 90 Days

EUR/TRY 4 Hour Price Update

Updated May 15, 2020 01:07 PM GMT (09:07 AM EST)

EUR/TRY is down 79 pips (0.11%) since the last 4 hour candle (opening the current 4 hour candle near 7.4685), marking the 3rd candle in a row it has gone down. Out of the 37 instruments in the Forex asset class, EUR/TRY ended up ranking 21st for the four-hour candle in terms of price change.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of EUR/TRY’s 5 day down streak; price ended the day prior up 121 pips (0.16%) to finish the day at a rate of 7.4858212618. Relative to other instruments in the Forex asset class, EUR/TRY ranked 10th the day prior in terms of percentage price change. Here is a price chart of EUR/TRY.

EUR/TRY Technical Analysis

The first thing we should note is that 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. For additional context, note that price has gone up 16 out of the past 30 days.