USD/TRY Down 13 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Nears 20 Day Moving Average
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
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 Up 50 Pips in Last Hour, Moves Up For the 3rd Consecutive Day; in an Uptrend Over Past 90 Days
Volatility for usdtry has been contracting over the past two weeks relative to volatility over the past month.
USDTRY Down 4 Pips in Last Hour, Came Into Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
USDTRY Down 7 Pips On Hourly Chart; Pin Bar Pattern Appearing on Chart
Of note is that the 20 hour changed directions on usdtry; it is now pointing down.
USDTRY Up 42 Pips in Last Hour
As for the rationale, technical traders seem to be citing the appearance of demand zone technical patterns.
USDTRY Down 11 Pips Over Past Hour; 2 Day Up Streak Broken
Compared to its peers in the forex, usdtry gave its buyers a return that ranked 23rd in terms of percentage change since the previous day.
USDTRY Up 23 Pips Over Past Hour, 3 Day Down Streak Snapped; Nears 20 Day Moving Average
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
USDTRY Down 61 Pips On Hourly Chart, Moves Down For the 3rd Consecutive Day; is Inching Close to 20 Day Average
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
USDTRY Up 36 Pips Over Past Hour, Fares the Worst Out of Forex; Eyes 20 Day Average
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
USDTRY Down 26 Pips Over Past Hour, 8 Day Up Streak Snapped; in an Uptrend Over Past 90 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.