USD/TRY Up 186 Pips; in an Uptrend Over Past 14 Days

USD/TRY Price Recap

The back and forth price flow continues for USD/TRY, which starts today off at 6.0625 US dollars, up 186 pips 0.31% from the previous day. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 98.93% from the day prior, and up 22.36% from the same day the week before. Relative to other instruments in the Forex asset class, USD/TRY ranked 9th yesterday in terms of percentage price change. The price chart of USD/TRY below illustrates.

USD/TRY Technical Analysis

The first thing we should note is that USD/TRY is now close to its 20 and 50 day averages, located at 5.9884 and 5.9336 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. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days USD/TRY’s price has gone up 10 them.

The View From Around the Web

Not much commentary on USDTRY that we’re finding noteworthy here; are y’all just scared to put out an opinion? 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.