EUR/TRY Up 3 Pips Over Past Hour, Entered Today Up For the 3rd Consecutive Day; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated December 29, 2021 1:45 GMT)

At the time of this writing, EURTRY’s rate is up 2.52 pips (0.19%) 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 50 hour timeframe. 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)

EURTRY is up 30 pips (2.31%) since yesterday (opening today near 13.4435197202), marking the 3rd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, EURTRY ranked 2nd yesterday in terms of percentage price change. Here is a price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Notably, the current price of EURTRY is sitting close to its 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days EURTRY’s price has gone up 17 them.