USDTRY

(Last Updated July 10, 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

On USDTRY, there is currently an uptrend on the 30 and 14 day timeframes.

USDTRY Moving Averages

USDTRY’s moving averages tell a multi-facted story about its trend. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 50 are bullish, implying a upward trend, aside from a fall about 7 weeks prior.

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

Regarding USDTRY’s correlations over the past 7 days, it has been most correlated with USDZAR. Over the past 14 days, however, the asset showing the strongest correlation to USDTRY is USDHKD. Alternatively, USDCNH has been the asset least correlated with USDTRY — but if we observe the prior two weeks, GBPAUD has been the asset least correlated with USDTRY. The chart below illustrates USDTRY against its least correlated assets.

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The View From the Weekly Timeframe

At the time of this writing, USDTRY’s rate is down -0.0011 (-0.02%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as USDTRY has now gone up 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 20 week timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on USDTRY. Given that we see an uptrend 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 bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The weekly chart below shows USDTRY’s price action over the past year.