USD/TRY Makes Big Move Relative to Two Week Trend, Down 641 Pips; in an Uptrend Over Past 30 Days
Relative to other instruments in the forex asset class, usd/try ranked 37th yesterday in terms of percentage price change.
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.
USD/TRY Down 706 Pips; in an Uptrend Over Past 30 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 up.
USD/TRY Up 514 Pips; in an Uptrend Over Past 90 Days
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 5.87% from the day prior, and up 41.2% from the same day the week before.
USD/TRY Up 514 Pips; in an Uptrend Over Past 14 Days
Bulls may note that this suggests a buy/sell ratio that is infinite.
USD/TRY Up 157 Pips; in an Uptrend Over Past 90 Days
The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 6.08% from the day prior, but up 165.32% from the same day the week before.
USD/TRY Heads Up For the 2nd Day In A Row; in an Uptrend Over Past 14 Days
Out of the 40 instruments in the forex asset class, usd/try ended up ranking 7th for the day in terms of day-over-day price change.
USD/TRY Up 274 Pips, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
As for the rationale, technical traders seem to be citing the appearance of a stochastic technical pattern.
USD/TRY Up 186 Pips; in an Uptrend Over Past 14 Days
Relative to other instruments in the forex asset class, usd/try ranked 9th yesterday in terms of percentage price change.
USD/TRY Down 94 Pips, in an Uptrend Over Past 90 Days; Doji Pattern Appearing on Chart
Relative to other instruments in the forex asset class, usd/try ranked 31st yesterday in terms of percentage price change.
USD/TRY Up 156 Pips; in an Uptrend Over Past 14 Days
Out of the 40 instruments in the forex asset class, usd/try ended up ranking 5th for the day in terms of day-over-day price change.