USD/TRY Down 78 Pips Over Past 4 Hours, 4 Day Down Streak Ended; in an Uptrend Over Past 90 Days

USD/TRY 4 Hour Price Update

Updated May 14, 2020 09:08 AM GMT (05:08 AM EST)

USD/TRY is down 78 pips (0.11%) since the previous 4 hours (opening the current 4 hour candle near 6.9642), marking the 3rd candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, USD/TRY ranked 32nd the previous 4 hours in terms of percentage price change.

USD/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of USD/TRY’s 4 day down streak; price ended yesterday up 17 pips (0.02%) to finish the day at a rate of 6.97243. Relative to other instruments in the Forex asset class, USD/TRY ranked 22nd yesterday in terms of percentage price change. Let’s take a look at price chart of USD/TRY.

USD/TRY Technical Analysis

The first thing we should note is that USD/TRY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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. For additional context, note that price has gone up 22 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDTRY; just 0 sell signals and 2 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.

USD/TRY OVERALL UP TREND wait for retirement in uptrend after you can you long .whatever wait foe market structure .many time previous side way momentum now is breakout up trend and wait for retirement .good luck