EUR/TRY Outperforms All Forex, Up 1329 Pips; in an Uptrend Over Past 14 Days
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
EURTRY
(Last Updated January 26, 2021)
Welcome to the news page for EURTRY (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 Economic Sentiment | Jan 2021 | Euro | EUR | 2021-01-28 | 10:00 GMT | 89.5 | |
| Euro Area Consumer Confidence Final | Jan 2021 | Euro | EUR | 2021-01-28 | 10:00 GMT | -15.5 | |
| Turkey MPC Meeting Summary | NA | Turkish Lira | TRY | 2021-01-28 | 11:00 GMT | ||
| Turkey Balance of Trade | Dec 2020 | Turkish Lira | TRY | 2021-01-29 | 07:00 GMT |
The Trend
On EURTRY, there is currently a downtrend on the 90 and 30 day timeframes.
EURTRY Moving Averages
The moving averages on EURTRY summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, suggesting the trend is generally upward, save for a decline that occurred about 3 weeks ago. Moreover, today we saw the 50 moving average turn bullish.
The chart below illustrates.
As for assets in the Forex asset class EURTRY has been correlated to over the past week, it has demonstrated the strongest correlation with USDJPY. If we zoom out to a two week basis, though, the asset showing the strongest correlation to EURTRY is USDTRY. Alternatively, the asset least correlated with EURTRY over the past week has been USDMXN, but over the past two weeks, the asset least correlated with EURTRY has been AUDNZD. The chart below illustrates EURTRY against its least correlated assets.
.
The View From the Weekly Timeframe
Currently, EURTRY’s rate is down -2.91 pips (-0.32%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as EURTRY has now gone down 4 of the past 5 weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 10 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 10 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. The weekly chart below shows EURTRY’s price action over the past year.
EURTRY: The Monthly View
Clearest trend on the monthly is apparent at the 24 month timeframe.
EUR/TRY Heads Up For the 4th Day In A Row; in an Uptrend Over Past 14 Days
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
EUR/TRY Makes Big Move Relative to Past Month, Heads Up For the 3rd Day In A Row; in an Uptrend Over Past 14 Days
Relative to other instruments in the forex asset class, eur/try ranked 2nd yesterday in terms of percentage price change.
EUR/TRY Makes Big Move Relative to Past Month, Heads Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
Volatility for eur/try has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.
EUR/TRY 2 Day Down Streak Broken, Breaks Above 20 and 50 Day Averages; in an Uptrend Over Past 90 Days
Relative to other instruments in the forex asset class, eur/try ranked 11th yesterday in terms of percentage price change.
EUR/TRY Down 68 Pips, in a Downtrend Over Past 14 Days; Nears 20 and 50 Day Moving Averages
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
EUR/TRY Down 67 Pips, in a Downtrend Over Past 14 Days; Price Base in Formation Over Past 30 Days
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
EUR/TRY Up 67 Pips, in a Downtrend Over Past 14 Days; Nears 20 and 50 Day Moving Averages
The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 14.37% from the day prior, but down 1.27% from the same day the week before.
EUR/TRY Down 235 Pips, Crosses 20 and 50 Day Moving Averages; in an Uptrend Over Past 90 Days
The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 8.89% from the day prior, but down 2.62% from the same day the week before.
EUR/TRY 4 Day Down Streak Broken, Crosses 20 Day Moving Average; in an Uptrend Over Past 90 Days
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.