USD/TRY Up 10 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Price Base in Formation Over Past 90 Days

USD/TRY 4 Hour Price Update

Updated July 10, 2020 09:14 AM GMT (05:14 AM EST)

USD/TRY is up 10 pips (0.01%) since the previous 4 hours (opening the current 4 hour candle near 6.8654), marking the 2nd candle in a row it has gone up. Compared to its peers in the Forex, USD/TRY gave its buyers a return that ranked 20th in terms of percentage change since the previous 4 hours.

USD/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/TRY is up 11 pips (0.02%) since the previous day (opening today near 6.8585), marking the 3rd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, USD/TRY ranked 24th the previous day in terms of percentage price change. Below is a price chart of USD/TRY.

USD/TRY Technical Analysis

Coming into today USD/TRY is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Volatility for USD/TRY 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 30 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 8 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.