USD/TRY Heads Up For the 2nd Day In A Row; in an Uptrend Over Past 14 Days

USD/TRY Price Recap

USD/TRY is up 246 pips (0.4%) since yesterday (with its current price near 6.14085), marking the 2nd day in a row it has gone up. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 15.46% from the day prior, and up 94.01% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/TRY ended up ranking 7th for the day in terms of day-over-day price change. Here is a price chart of USD/TRY.

USD/TRY Technical Analysis

Notably, USD/TRY is now close to its 20 day averages, located at 6.0307 respectively, and thus may be at a key juncture along those timeframes. Volatility for USD/TRY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 10 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 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com that we thought you might enjoy.