EUR/TRY Up 9 Pips, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

EUR/TRY Price Recap

EUR/TRY is up 9 pips (0.01%) since yesterday (with its current price near 6.5332), marking the 2nd day in a row an increase has occurred. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 28.57% from the day before — and down 29.89% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/TRY ended up ranking 23rd for the day in terms of day-over-day price change. Here is a price chart of EUR/TRY.

EUR/TRY Technical Analysis

Coming into today EUR/TRY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 605.2 pips away. Volatility for EUR/TRY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone up 19 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.