USDTRY Up 55 Pips in Last Hour, Entered Today Up For the 5th Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 18, 2020 23:14 GMT)

At the moment, USDTRY’s rate is up 0.55 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDTRY is up 499 pips (0.67%) since the day prior (opening today near 7.54242), marking the 5th day in a row an increase has occurred. Relative to other instruments in the Forex asset class, USDTRY ranked 2nd the day prior in terms of percentage price change. Here is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

The first thing we should note is that USDTRY is now close to its 20 day averages, located at 7.4158 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days USDTRY’s price has gone up 9 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDTRY; just 0 sell signals and 1 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Asla ama asla yatirim tavsiyesi degildir.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram