EUR/TRY Up 536 Pips; in an Uptrend Over Past 14 Days

EUR/TRY Price Recap

6.9987 (USD) was the opening price of the day for EUR/TRY, resulting in yesterday being a day in which price moved up 536 pips 0.77% 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 2.53% from the day prior, and up 52.26% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/TRY ended up ranking 6th for the day in terms of day-over-day 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 17 out of the past 30 days.

A final note on correlations: over the past week, the currency pair bearing the strongest correlation to EUR/TRY has been TRY/JPY — a common occurrence, given the presence of TRY in both currency pairs. On the flip side, in terms of pairs with the least correlation to EUR/TRY, that belongs to NZD/CHF over the past 7 days, but TRY/JPY over a two week period.