USDTRY Up 76 Pips Over Past Hour, Came Into Today Up For the 2nd Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 24, 2020 0:14 GMT)

At the time of this writing, USDTRY’s rate is up 0.76 pips (0.1%) from the hour prior. USDTRY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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 467 pips (0.61%) since yesterday (opening today near 7.66335), marking the 2nd day in a row an upward move has occurred. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 4th in terms of percentage change since yesterday. The price chart of USDTRY below illustrates.

USDTRY

USDTRY Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 10 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 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.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram