EURTRY

(Last Updated February 24, 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:

Forex Calendar for EURTRY

metric_name reference_period asset_name asset_id date time forecast outcome
Euro Area ECB McCaul Speech NA Euro EUR 2021-02-24 13:45 GMT
European Union European Council Meeting NA Euro EUR 2021-02-25 08:00 GMT
Euro Area Consumer Confidence Final Feb 2021 Euro EUR 2021-02-25 10:00 GMT -14.8
Euro Area Economic Sentiment Feb 2021 Euro EUR 2021-02-25 10:00 GMT 92
Turkey MPC Meeting Summary NA Turkish Lira TRY 2021-02-25 11:00 GMT

The Trend

If we observe the 90 and 30 day timeframes, we see a downtrend in place for EURTRY.

EURTRY Moving Averages

Nuances in the trend on EURTRY can be understood by observing the behavior of its moving averages. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bearish, implying a downward trend, aside from a spike about 6 months prior.

Below is a chart showing EURTRY’s price with its moving averages.

In terms of correlations over the past week for EURTRY, it has demonstrated the strongest correlation with TRYJPY. EURTRY has been most correlated with TRYJPY over the past 14 days also, so this may be a structural correlation in the market. Alternatively, USDNOK has been the asset least correlated with EURTRY — but over the past two weeks, NZDCHF has been the asset least correlated with EURTRY. The chart below illustrates EURTRY against its least correlated assets.

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The View From the Weekly Timeframe

Currently, EURTRY’s rate is up 19.92 pips (2.36%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 10 week timeframe. 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.

EURTRY: The Monthly View

Clearest trend on the monthly is apparent at the 24 month timeframe.

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