USD/TRY Heads Up For the 4th Day In A Row

USD/TRY Price Recap

USD/TRY is up 1059 pips (1.71%) since yesterday (with its current price near 6.31502), marking the 4th day in a row an upward move has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 21.59% from the day prior, but down 18.54% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/TRY ended up ranking 9th for the day in terms of day-over-day price change. Let’s take a look at price chart of USD/TRY.

USD/TRY Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 21 out of the past 30 days.

A final note on correlations: over the past week, USD/TRY has been most correlated with USD/CNH — a common occurrence, given the presence of USD in both currency pairs. On the flip side, in terms of pairs with the least correlation to USD/TRY, look no further than EUR/USD if you’re focused on just this past week, or AUD/USD for a look at a broader, two week window.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDTRY; just 0 sell signals and 1 buy signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s take that with a grain of salt. ­čÖé Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Dolar kritik 6,2450 D─░REN├ç seviyesine geldi. Buradan tepki vermesi gerekiyor. Aksi takdirde al─▒┼č bask─▒s─▒ ARTACAKTIR.B├Âlgesel olarak korona vir├╝s├╝n├╝n T├╝rkiye’ye giri┼či ┼ču an endekste al─▒┼č bask─▒s─▒ yarat─▒yor. Kamu bankalar─▒n─▒n m├╝dahelelerine ra─čmen bakal─▒m diren├ž seviyesini k─▒rabilecek mi.