USD/TRY Up 22 Pips Over Past Hour; in an Uptrend Over Past 90 Days
So far, this breakout has started to trend nicely to the upside with price already up 7.3%since breaking above resistance at 7.0831.
USDTRY
(Last Updated September 22, 2020)
Welcome to the news page for USDTRY (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 90, 30 and 14 day timeframes, we see an uptrend in place for USDTRY.
USDTRY Moving Averages
Across several time periods between 20 and 200 days, the trend on USDTRY has remained consistently bullish.
Below is a chart showing USDTRY’s price with its moving averages.
Regarding USDTRY’s correlations over the past 7 days, it has demonstrated the strongest correlation with AUDJPY. Over the past 14 days, however, the asset showing the strongest correlation to USDTRY is EURTRY. Alternatively, CADCHF has been the asset least correlated with USDTRY — but if we observe the prior two weeks, USDCHF 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 moment, USDTRY’s rate is up 0.0752 (1%) 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. As for the trend on the weekly timeframe, we see the clearest trend 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.
USDTRY Up 18 Pips Over Past Hour; in an Uptrend Over Past 90 Days
This imputes a buy/sell ratio of 0.5, which is bearish.
USDTRY Up 22 Pips in Last Hour, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
With a trend currently in play, we have to look at the next area price may move to and wecan see that then 8.0000 round number is above and may act as resistance.we currently have a position in this pair and we will look to compound as long as pricecontinues to break previous levels of resistance.see below for more information on our trading techniques.
USDTRY Up 55 Pips in Last Hour, Entered Today Up For the 5th Day In A Row; in an Uptrend Over Past 14 Days
This move is a reversal from the hour prior, which saw price move down.
USDTRY Down 37 Pips On Hourly Chart, Came Into Today Up For the 3rd Consecutive Day; in an Uptrend Over Past 14 Days
Compared to its peers in the forex, usdtry gave its buyers a return that ranked 16th in terms of percentage change since the previous day.
USDTRY Up 22 Pips in Last Hour, Moves Up For the 3rd Straight Day; in an Uptrend Over Past 14 Days
Price action traders may also wish to note that we see a pin bar candlestick pattern on usdtry.
USDTRY Up 5 Pips Over Past Hour
Of note is that the 100 hour changed directions on usdtry; it is now pointing down.
USDTRY Down 9 Pips On Hourly Chart; in an Uptrend Over Past 14 Days
It’s been a feast for bears operating on an hourly timeframe, as usdtry has now gone down 5 of the past 5 hours.
USDTRY Up 9 Pips Over Past Hour, Entered Today Up For the 8th Day In A Row; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 11 out of the past 14 days.
USDTRY Up 122 Pips in Last Hour, Came Into Today Up For the 8th Straight Day; Pin Bar Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 10 days usdtry’s price has gone up 8 them.