EUR/TRY Up 2 Pips Over Past Hour; Makes Big Move Relative to Two Week Trend

Hourly Update

(Last Updated November 17, 2021 1:47 GMT)

At the time of this writing, EURTRY’s rate is up 1.51 pips (0.13%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURTRY. Given that we see an uptrend on the 20 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)

The back and forth price flow continues for EURTRY, which started today off at 11.694491475, up 27 pips 2.37% from the previous day. Out of the 39 instruments in the Forex asset class, EURTRY ended up ranking 2nd for the day in terms of price change. The price chart of EURTRY below illustrates.

EURTRY

EURTRY Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days EURTRY’s price has gone up 7 them.