(Last Updated March 4, 2021)
Hello! This is the news page for EURTRY. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Euro Area Unemployment Rate | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | 8.3% | 8.1% |
| Euro Area Retail Sales YoY | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | -1.2% | -6.4% |
| Euro Area Retail Sales MoM | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | -1.1% | -5.9% |
As for trends on EURTRY, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.
The moving averages on EURTRY summarize its price action in an interesting way. The 20 and 200 day averages suggest a bullish trend, as they are pointing upwards, while the 50 and 100 day averages are pointing downward, suggesting a bearish trend on those timeframes.
Below is a chart showing EURTRY’s price with its moving averages.
Regarding EURTRY’s correlations over the past 7 days, it has demonstrated the strongest correlation with TRYJPY. TRYJPY is the asset with which EURTRY has been most correlated with over the past two weeks as well, so this may be a recurring pattern. On the flip side, EURCHF has been the asset least correlated with EURTRY — but over the past two weeks, GBPUSD has been the asset least correlated with EURTRY. The chart below illustrates EURTRY against its least correlated assets.
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At the time of this writing, EURTRY’s rate is up 2.57 pips (0.29%) from the week prior. Moreover, note that the weekly chart shows that EURTRY has seen 2 straight up weeks. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURTRY. Given that we see downtrend on the 20 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly 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’s weekly price action over the past 52 weeks can be seen via the chart below.
Clearest trend on the monthly is apparent at the 120 month timeframe.
The eur/try pair’s 50-day moving average will continue its upward trend after its surge against the 200-day moving average in early august, and it looks like the tables won’t turn until the countries come up with a definite agreement.
Relative to other instruments in the forex asset class, eurtry ranked 2nd yesterday in terms of percentage price change.
It’s been a feast for bears operating on an hourly timeframe, as eurtry has now gone down 4 of the past 5 hours.
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
For additional context, note that price has gone up 8 out of the past 14 days.
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern.
Compared to its peers in the forex, eurtry gave its buyers a return that ranked 24th in terms of percentage change since yesterday.
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.