USDTRY Down 0 Pips in Last Hour, Moves Up For the 8th Consecutive Day; in an Uptrend Over Past 90 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
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 Down 5 Pips Over Past Hour, Outperforms All Forex; Makes Big Move Relative to Two Week Trend
The closest is the 20 day average, which is 1721.8 pips away.
USDTRY Up 4 Pips in Last Hour, Entered Today Up For the 5th Straight Day; in an Uptrend Over Past 90 Days
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
USDTRY Up 75 Pips Over Past Hour, Moves Up For the 4th Consecutive Day; is Inching Close to 20 Day Average
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.
USDTRY Down 6 Pips in Last Hour; Entered Today Up For the 3rd Straight Day
Price action traders may also wish to note that we see a pin bar candlestick pattern on usdtry.
USDTRY Up 111 Pips Over Past Hour, Came Into Today Up For the 2nd Day In A Row; in a Downtrend Over Past 14 Days
The closest is the 20 day average, which is 585.1 pips away.
USDTRY Down 122 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Came Into Today Down For the 4th Straight Day
This is the 2nd straight hour usdtry has seen its price head down.
USDTRY Up 42 Pips On Hourly Chart, Breaks Below 20 Day Average; in an Uptrend Over Past 30 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
USDTRY Down 45 Pips On Hourly Chart, Came Into Today Down For the 2nd Straight Day; Nears 20 Day Moving Average
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
USDTRY Down 9 Pips Over Past Hour, Underperforms All Forex; Nears 20 Day Moving Average
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.