(Last Updated April 22, 2021 2:16 GMT)
Currently, USDTRY’s rate is up 0.04 pips (0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDTRY has now gone up 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDTRY. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
USDTRY End of Day Recap
Updated 00:30 GMT (04:30 EST)
USDTRY is up 734 pips (0.91%) since yesterday (opening today near 8.1786), marking the 5th straight day it has gone up. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 3rd in terms of percentage change since yesterday. The price chart of USDTRY below illustrates.
USDTRY Technical Analysis
First things first: USDTRY crossed above its 20 day moving average yesterday. 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 445.6 pips away. Volatility for USDTRY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 30 days USDTRY’s price has gone up 17 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 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.
ilk durak 8.28. kırarsa bir önceki zirveye yol alır..