USD/TRY Up 149 Pips in Last 4 Hours; in an Uptrend Over Past 14 Days
Turkey needs strong physical changes and innovative solutions, because turism is not relable and stable part of its economy.
USDTRY
(Last Updated August 11, 2020)
Hello! This is the news page for USDTRY. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
If we observe the 30 and 14 day timeframes, we see an uptrend in place for USDTRY.
USDTRY Moving Averages
The moving averages on USDTRY indicate a trend that is clearly bullish.
Below is a chart showing USDTRY’s price with its moving averages.
In terms of correlations over the past week for USDTRY, it has been most correlated with EURUSD:CUR. If we zoom out to a two week basis, though, TRYJPY is the asset most correlated to USDTRY. Alternatively, the asset least correlated with USDTRY over the past week has been EURGBP, but if we observe the prior two weeks, EURAUD has been the asset least correlated with USDTRY. 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
Currently, USDTRY’s rate is up 0.0602 (0.83%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as USDTRY has now gone up 8 of the past 10 weeks. 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 bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The weekly chart below shows USDTRY’s price action over the past year.
USD/TRY Up 168 Pips On 4 Hour Chart; in an Uptrend Over Past 14 Days
Turkey needs strong physical changes and innovative solutions, because turism is not relable and stable part of its economy.
USD/TRY Down 676 Pips Over Past 4 Hours, Tops All Forex; Price Base in Formation Over Past 90 Days
But, let’s not get carried away with that idea just yet. 🙂 as for the rationale, technical traders seem to be citing the appearance of a elliott wave technical pattern.
USD/TRY Down 154 Pips On 4 Hour Chart; 4 Day Up Streak Ended
Turkey needs strong physical changes and innovative solutions, because turism is not relable and stable part of its economy.
USD/TRY Down 676 Pips in Last 4 Hours, Outperforms All Forex; Entered Today Up For the 4th Day In A Row
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
USD/TRY Down 112 Pips On 4 Hour Chart, Makes Big Move Relative to Past Three Months; Moves Up For the 2nd Day In A Row
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
USD/TRY Up 523 Pips On 4 Hour Chart, Makes Big Move Relative to Past Two Months; Moves Up For the 2nd Day In A Row
But, let’s not get carried away with that idea just yet. 🙂 as for the rationale, technical traders seem to be citing the appearance of a harmonic technical pattern.
USD/TRY Up 1001 Pips On 4 Hour Chart, Outperforms All Forex; 2 Day Down Streak Snapped
For context, observe that the day prior was noteworthy in the sense that usd/try bested all 40 of the assets in the forex class.
USD/TRY Down 337 Pips On 4 Hour Chart; in an Uptrend Over Past 14 Days
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
USD/TRY Down 103 Pips in Last 4 Hours, Entered Today Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.