USD/TRY Down 68 Pips Over Past 4 Hours, Entered Today Up For the 5th Day In A Row; Pin Bar Pattern Appearing on Chart

USD/TRY 4 Hour Price Update

Updated July 30, 2020 01:08 AM GMT (09:08 PM EST)

USD/TRY is down 68 pips (0.1%) since the last 4 hour candle (opening the current 4 hour candle near 6.9711), marking the 2nd candle in a row it has gone down. Compared to its peers in the Forex, USD/TRY gave its buyers a return that ranked 27th in terms of percentage change since the last 4 hour candle.

USD/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/TRY is up 79 pips (0.11%) since yesterday (opening today near 6.97254), marking the 5th day in a row an increase has occurred. Compared to its peers in the Forex, USD/TRY gave its buyers a return that ranked 8th in terms of percentage change since yesterday. The price chart of USD/TRY below illustrates.

USD/TRY

USD/TRY Technical Analysis

Coming into today USD/TRY is now close to its 20, 50 and 100 day averages, located at 6.8666, 6.8421 and 6.8677 respectively, and thus may be at a key juncture along those timeframes. 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 100 day average, which is 1048.3 pips away. For additional context, note that price has gone up 19 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!