EUR/TRY Up 1611 Pips; in an Uptrend Over Past 90 Days

EUR/TRY Price Recap

7.1855 (USD) was the opening price of the day for EUR/TRY, resulting in yesterday being a day in which price moved up 1611 pips 2.29% from the day prior. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 8.19% from the day prior, and up 97.12% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/TRY ranked 5th yesterday in terms of percentage price change. Below 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. For additional context, note that price has gone up 9 out of the past 14 days.

A final note on correlations: over the past 7 days, the currency pair bearing the strongest correlation to EUR/TRY has been EUR/NOK — a frequent scenario, considering EUR finds itself in both pairs. On the flip side, in terms of pairs with the least correlation to EUR/TRY, that belongs to USD/JPY over the past 7 days, but TRY/JPY over a two week period.

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 that we thought you might enjoy.