USD/TRY 4 Hour Price Update
Updated June 30, 2020 09:07 PM GMT (05:07 PM EST)
The back and forth price flow continues for USD/TRY, which started the current 4 hour candle off at 6.8538, down 18 pips 0.03% from the last 4 hour candle. Relative to other instruments in the Forex asset class, USD/TRY ranked 24th the last 4 hour candle in terms of percentage price change.
USD/TRY End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for USD/TRY, which started today off at 6.84732, down 42 pips 0.06% from the day prior. Compared to its peers in the Forex, USD/TRY gave its buyers a return that ranked 38th in terms of percentage change since the day prior. Below is a price chart of USD/TRY.
USD/TRY Technical Analysis
Notably, 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 50 day average, which is 140.8 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. 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 8 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.
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. This imputes a buy/sell ratio that’s infinite! But, let’s take that with a grain of salt. 🙂 As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
I await a breakout as price reaches the hall mark of the ascending triangle..