USD/TRY Down 103 Pips in Last 4 Hours, Entered Today Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days

USD/TRY 4 Hour Price Update

Updated August 03, 2020 05:09 AM GMT (01:09 AM EST)

The choppiness in the recent four-hour candle price action of USD/TRY continues; to start the current 4 hour candle, it came in at a price of 6.979, down 103 pips (0.15%) since the last 4 hour candle. Relative to other instruments in the Forex asset class, USD/TRY ranked 34th the last 4 hour candle in terms of percentage price change.

USD/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/TRY is up 67 pips (0.1%) since the day prior (opening today near 6.97689), marking the 2nd day in a row an upward move has occurred. Out of the 40 instruments in the Forex asset class, USD/TRY ended up ranking 5th for the day in terms of price change. Below is a price chart of USD/TRY.

USD/TRY

USD/TRY Technical Analysis

Notably, the current price of USD/TRY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. The closest is the 20 day average, which is 929.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.