USDTRY Down 54 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 100 Day Average
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
USDTRY
(Last Updated April 15, 2021)
Hello! This is the news page for USDTRY. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for USDTRY
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Turkey TCMB Interest Rate Decision | 2021 | Turkish Lira | TRY | 2021-04-15 | 11:00 GMT | 19% | 19% |
| United States Philadelphia Fed Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 42 | 50.2 |
| United States NY Empire State Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 19.5 | 26.3 |
| United States Retail Sales MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5.9% | 9.8% |
| United States Retail Sales Ex Autos MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5% | 8.4% |
The Trend
A trend/countertrend situation exists on USDTRY, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 and 30 day timeframes. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
USDTRY Moving Averages
The moving averages on USDTRY indicate a trend that is clearly bullish.
The chart below illustrates.
In terms of correlations over the past week for USDTRY, it has been most correlated with USDZAR. USDZAR is the asset with which USDTRY has been most correlated with over the past two weeks as well, so this may be a structural correlation in the market. On the flip side, GBPNZD has been the asset least correlated with USDTRY — but if we observe the prior two weeks, the asset least correlated with USDTRY has been EURCHF. See the chart below to observe the recent price action in USDTRY versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
At the time of this writing, USDTRY’s rate is down -8.52 pips (-1.04%) from the week prior. Moreover, note that this is the 2nd week in a row USDTRY has seen its price head down. Regarding the trend, note that the strongest trend 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. The weekly chart below shows USDTRY’s price action over the past year.
USDTRY: The Monthly View
Clearest trend on the monthly is apparent at the 120 month timeframe.
USDTRY Down 125 Pips Over Past Hour, Entered Today Down For the 2nd Day In A Row; Breaks Below 100 Day Average
The closest is the 100 day average, which is 60.4 pips away.
USDTRY Up 89 Pips Over Past Hour, 2 Day Up Streak Ended; Doji and Pin Bar Patterns Appearing on Chart
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up.
USDTRY Down 79 Pips in Last Hour, 4 Day Down Streak Broken; in an Uptrend Over Past 90 Days
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up.
USDTRY Up 11 Pips On Hourly Chart, Moves Down For the 3rd Straight Day; in a Downtrend Over Past 14 Days
Price action traders may also wish to note that we see a doji candlestick pattern on usdtry.
USDTRY Down 1 Pips On Hourly Chart, Moves Down For the 3rd Straight Day; in a Downtrend Over Past 14 Days
Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
USDTRY Up 31 Pips On Hourly Chart, Moves Down For the 2nd Straight Day; Doji and Pin Bar Patterns Appearing on Chart
Or to simplify this another way, note that out of the past 30 days usdtry’s price has gone up 15 them.
USD/TRY Up 5 Pips in Last Hour, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
USDTRY Up 7 Pips in Last Hour, 5 Day Down Streak Snapped; in a Downtrend Over Past 14 Days
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up.
USDTRY Up 8 Pips in Last Hour, 5 Day Down Streak Broken; in a Downtrend Over Past 14 Days
Compared to its peers in the forex, usdtry gave its buyers a return that ranked 8th in terms of percentage change since yesterday.