EUR/TRY Up 9 Pips in Last Hour, Makes Big Move Relative to Past Month; Moves Up For the 3rd Consecutive Day

Hourly Update

(Last Updated September 12, 2022 1:41 GMT)

At the time of this writing, EURTRY’s rate is up 9.08 pips (0.5%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved 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)

EURTRY is up 6 pips (0.32%) since the previous day (opening today near 18.321467255), marking the 3rd consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, EURTRY ended up ranking 9th for the day in terms of price change. Below is a price chart of EURTRY.

EURTRY

EURTRY Technical Analysis

Notably, EURTRY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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. For additional context, note that price has gone up 7 out of the past 10 days.

The View From Around the Web

Not much commentary on EURTRY that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Expect price to increase 1322.0 units for currency market EURTRY. https://www.tradingview.com/x/EndDBFMh/