USD/TRY Up 206 Pips Over Past 4 Hours, Makes Big Move Relative to Past Month; Crosses 50 Day Moving Average

USD/TRY 4 Hour Price Update

Updated July 22, 2020 09:21 AM GMT (05:21 AM EST)

USD/TRY entered the current 4 hour candle at 6.8512, up 206 pips (0.3%) from the previous 4 hours. Out of the 37 instruments in the Forex asset class, USD/TRY ended up ranking 6th for the four-hour candle in terms of price change.

USD/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USD/TRY continues; to start today, it came in at a price of 6.82988, up 158 pips (0.23%) since the previous day. Relative to other instruments in the Forex asset class, USD/TRY ranked 3rd the previous day in terms of percentage price change. Below is a price chart of USD/TRY.

USD/TRY Technical Analysis

First things first: USD/TRY crossed above its 50 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 50 day average, which is 39.9 pips away. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days USD/TRY’s price has gone up 6 them.