USDTRY

(Last Updated February 24, 2021)

Welcome to the news page for USDTRY (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

The Trend

On USDTRY, there is currently a downtrend on the 90 and 30 day timeframes.

USDTRY Moving Averages

The moving averages on USDTRY summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bearish, implying a downward trend, save for a spike that occurred about 6 months ago.

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

In terms of correlations over the past week for USDTRY, it has demonstrated the strongest correlation with EURTRY. If we zoom out to a two week basis, though, the asset showing the strongest correlation to USDTRY is TRYJPY. Alternatively, the asset least correlated with USDTRY over the past week has been USDNOK, but over the past two weeks, the asset least correlated with USDTRY has been AUDUSD. The chart below illustrates USDTRY against its least correlated assets.

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The View From the Weekly Timeframe

Currently, USDTRY’s rate is up 14.33 pips (2.06%) from the week prior. USDTRY has seen its price go down 4 out of the past 5 weeks, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 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

Strongest trend on the 24 month timeframe.