USD/TRY Down 1 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Moves Down For the 3rd Day In A Row

USD/TRY 4 Hour Price Update

Updated July 02, 2020 01:18 AM GMT (09:18 PM EST)

The choppiness in the recent four-hour candle price action of USD/TRY continues; to start the current 4 hour candle, it came in at a price of 6.8473, down 1 pips (0%) since the last 4 hour candle. Relative to other instruments in the Forex asset class, USD/TRY ranked 15th the last 4 hour candle in terms of percentage price change.

USD/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/TRY is down 24 pips (0.03%) since the day prior (opening today near 6.84068), marking the 3rd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, USD/TRY ranked 31st the day prior in terms of percentage price change. Let’s take a look at price chart of USD/TRY.

USD/TRY Technical Analysis

The first thing we should note is that USD/TRY is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 20 day average, which is 30.7 pips away. 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. Or to simplify this another way, note that out of the past 10 days USD/TRY’s price has gone down 6 them.

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; below is a short snippet from it to give you a taste.

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