EUR/TRY Up 7 Pips Over Past Hour, Breaks Above 20 Day Average; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated January 5, 2022 1:42 GMT)

Currently, EURTRY’s rate is up 7.37 pips (0.49%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 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)

The choppiness in the recent daily price action of EURTRY continues; to start today, it came in at a price of 15.164499896, up 40 pips (2.71%) since the day prior. Compared to its peers in the Forex, EURTRY gave its buyers a return that ranked 2nd in terms of percentage change since the day prior. The price chart of EURTRY below illustrates.

EURTRY

EURTRY Technical Analysis

First things first: EURTRY crossed above its 20 day moving average yesterday. 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 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.