USD/TRY Down 29 Pips in Last 4 Hours, in an Uptrend Over Past 14 Days; Doji Pattern Appearing on Chart

USD/TRY 4 Hour Price Update

Updated June 25, 2020 01:12 PM GMT (09:12 AM EST)

The back and forth price flow continues for USD/TRY, which started the current 4 hour candle off at 6.8552, down 29 pips 0.04% from the previous 4 hours. Out of the 37 instruments in the Forex asset class, USD/TRY ended up ranking 22nd for the four-hour candle in terms of price change.

USD/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USD/TRY continues; to start today, it came in at a price of 6.8478, down 40 pips (0.06%) since the previous day. Relative to other instruments in the Forex asset class, USD/TRY ranked 32nd the previous day in terms of percentage price change. Below is a price chart of USD/TRY.

USD/TRY Technical Analysis

The first thing we should note is that USD/TRY is now close to its 20, 50 and 100 day averages, located at 6.8124, 6.8722 and 6.7254 respectively, and thus may be at a key juncture along those timeframes. 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 244 pips away. 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 30 days USD/TRY’s price has gone up 18 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much commentary on USDTRY that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

DolarTL 1 saatlik grafiğe göre konsolidasyon yapmış durumda. Günlük ve Haftalık grafiklere bakarsanız orda da sıkışmalar yaşandığını görebilirsiniz.Bu sıkışmanın yukarı yönlü kırılabileceğini rahatlıkla söyleyebilirim. Bunda etken olan olarak Türkiye piyasasından kaçan yabancı yatırımcıların yüksek etkisi var.Önümüzdeki 10 günü(25.06.2020 – 04.07.2020) dikkatle takip edilmesi ve ona göre pozisyon almamız oldukça önemli