EUR/TRY Up 867 Pips in Last 4 Hours, Moves Down For the 8th Day In A Row; is Inching Close to 50 Day Average

EUR/TRY 4 Hour Price Update

Updated May 18, 2020 05:09 PM GMT (01:09 PM EST)

The back and forth price flow continues for EUR/TRY, which started the current 4 hour candle off at 7.5077, up 867 pips 1.17% from the last 4 hour candle. EUR/TRY outperformed all 37 assets in the Forex asset class the last 4 hour candle. Congrats to its holders!

EUR/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/TRY is down 52 pips (0.07%) since the previous day (opening today near 7.457036432), marking the 8th day in a row a decrease has occurred. Out of the 40 instruments in the Forex asset class, EUR/TRY ended up ranking 34th for the day in terms of price change. Below is a price chart of EUR/TRY.

EUR/TRY Technical Analysis

Coming into today the current price of EUR/TRY is sitting close to its 20 and 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 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. For additional context, note that price has gone down 12 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.