EUR/TRY Up 509 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 30 Days

EUR/TRY 4 Hour Price Update

Updated March 25, 2020 01:40 PM GMT (09:40 AM EST)

The choppiness in the recent four-hour candle price action of EUR/TRY continues; to start the current 4 hour candle, it came in at a price of 6.9664, up 509 pips (0.74%) since the previous 4 hours. Compared to its peers in the Forex, EUR/TRY gave its buyers a return that ranked 5th in terms of percentage change since the previous 4 hours.

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/TRY, which started today off at 6.93689864, up 237 pips 0.34% from yesterday. Out of the 40 instruments in the Forex asset class, EUR/TRY ended up ranking 2nd for the day in terms of price change. Let’s take a look at price chart of EUR/TRY.

EUR/TRY Technical Analysis

The first thing we should note is that EUR/TRY is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for EUR/TRY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 18 out of the past 30 days.

The View From Around the Web

Not much commentary on EURTRY that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price has been trying to break 7.10 level and fail since last week.If Euro weakens EURTRY will the first pair going down hard. We’ll try to capture this potential 900 pips to 6.96 levelLike and comment if you find value in our analysis.Good luckNOTES:- All trades are executed with a valid signal of our own. As a trader you should develop and test your own entry protocol.- We never trade just because the price reaches the trading zone. This also means that not every idea is a valid trade.- Our analysis are trading ideas not trading signals for you. Therefore questions about the status of the trade, stop loss, take profit levels won’t help your progress to be a better trader.- Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style.Best Regards.