USD/TRY Up 127 Pips Over Past Hour, Moves Up For the 3rd Day In A Row; Breaks Above 200 Day Average
The closest is the 200 day average, which is 157.6 pips away.
USDTRY
(Last Updated March 4, 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 |
|---|---|---|---|---|---|---|---|
| United States Unit Labour Costs QoQ Final | Q4 2020 | US Dollar | USD | 2021-03-04 | 13:30 GMT | 6.6% | |
| United States Nonfarm Productivity QoQ Final | Q4 2020 | US Dollar | USD | 2021-03-04 | 13:30 GMT | -4.7% | |
| United States Continuing Jobless Claims | 20/Feb 2021 | US Dollar | USD | 2021-03-04 | 13:30 GMT | 4300K | |
| United States Jobless Claims 4-week Average | Feb/27 2021 | US Dollar | USD | 2021-03-04 | 13:30 GMT | ||
| United States Initial Jobless Claims | 27/Feb 2021 | US Dollar | USD | 2021-03-04 | 13:30 GMT | 750K |
The Trend
As for trends on USDTRY, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.
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 100 are bullish, implying a upward trend, save for a decline that occurred about 3 months ago. Moreover, it should also be noted that the 50 SMA just turned bullish today.
The chart below illustrates.
As for assets in the Forex asset class USDTRY has been correlated to over the past week, it has demonstrated the strongest correlation with TRYJPY. If we zoom out to a two week basis, though, EURTRY is the asset most correlated to USDTRY. Alternatively, the asset least correlated with USDTRY over the past week has been EURJPY, but if we observe the prior two weeks, USDCAD 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.
.
The View From the Weekly Timeframe
Currently, USDTRY’s rate is up 3.39 pips (0.46%) from the week prior. Moreover, note that this is the 2nd consecutive week USDTRY has seen its price head up. 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 a pin bar candlestick pattern on USDTRY. Given that we see downtrend 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 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 19 Pips Over Past Hour, Moves Up For the 3rd Day In A Row; Crosses 200 Day Moving Average
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
USDTRY Down 202 Pips in Last Hour, Moves Up For the 2nd Day In A Row; Price Base in Formation Over Past 30 Days
It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign.
USDTRY Down 9 Pips On Hourly Chart; in a Downtrend Over Past 90 Days
Relative to other instruments in the forex asset class, usdtry ranked 2nd yesterday in terms of percentage price change.
USDTRY Up 27 Pips in Last Hour, 7 Day Up Streak Ended; in a Downtrend Over Past 90 Days
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
USDTRY Down 62 Pips in Last Hour, Moves Up For the 8th Consecutive Day; in a Downtrend Over Past 90 Days
With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration.
USDTRY Down 3 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Moves Up For the 6th Straight Day
It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign.
USDTRY Down 3 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Came Into Today Up For the 5th Consecutive Day
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
USDTRY Up 68 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 90 Days
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 Up 37 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 14 Days
Volatility for usdtry has been contracting over the past two weeks relative to volatility over the past month.