USD/TRY 4 Hour Price Update
Updated March 31, 2020 01:11 PM GMT (09:11 AM EST)
A moment of silence, please, for the end of USD/TRY’s 6 four-hour candle up streak; price ended the last 4 hour candle down 147 pips (-0.22%) to finish the four-hour candle at a rate of 6.563. Out of the 40 instruments in the Forex asset class, USD/TRY ended up ranking 22nd for the four-hour candle in terms of price change.
USD/TRY End of Day Recap
Updated 00:30 GMT (04:30 EST)
After 3 up days, USD/TRY snaps its streak, falling 366 pips (-0.56%) over the past day to close at an exchange rate of 6.5246. Relative to other instruments in the Forex asset class, USD/TRY ranked 39th the previous day in terms of percentage price change. Let’s take a look at price chart of USD/TRY.
USD/TRY Technical Analysis
Notably, USD/TRY is now close to its 20 day averages, located at 6.4082 respectively, and thus may be at a key juncture along those timeframes. 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. For additional context, note that price has gone up 9 out of the past 14 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for USDTRY; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Price is showing rejection at current support and after seeing a few rejection candles on multiple time frames I will be going short and targeting previous support.Follow me on Instagram @justinvaledonfx