USDTRY Down 24 Pips Over Past Hour, Came Into Today Up For the 3rd Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated October 6, 2020 15:14 GMT)

Currently, USDTRY’s rate is down -0.24 pips (-0.03%) from the hour prior. USDTRY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDTRY is up 155 pips (0.2%) since the previous day (opening today near 7.76235), marking the 3rd consecutive day an upward move has occurred. Out of the 40 instruments in the Forex asset class, USDTRY ended up ranking 19th for the day in terms of price change. Here is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

The first thing we should note is that USDTRY is now close to its 20 day averages, located at 7.61 respectively, and thus may be at a key juncture along those timeframes. 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 14 days USDTRY’s price has gone up 11 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDTRY; just 1 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 that we thought you might enjoy.