USD/TRY Down 71 Pips On 4 Hour Chart, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

USD/TRY 4 Hour Price Update

Updated May 21, 2020 12:48 AM GMT (08:48 PM EST)

USD/TRY is down 71 pips (0.1%) since the last 4 hour candle (opening the current 4 hour candle near 6.785), 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 33rd in terms of percentage change since the last 4 hour candle.

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 6.77726, down 125 pips (0.18%) since yesterday. Out of the 40 instruments in the Forex asset class, USD/TRY ended up ranking 39th for the day in terms of price change. Below is a price chart of USD/TRY.

USD/TRY Technical Analysis

Coming into today the current price of USD/TRY is sitting close to its 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days USD/TRY’s price has gone down 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much commentary on USDTRY that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com that we thought you might enjoy.