USD/TRY Down 48 Pips Over Past 4 Hours, Makes Big Move Relative to Past Two Months; Entered Today Up For the 4th Day In A Row

USD/TRY 4 Hour Price Update

Updated July 29, 2020 01:14 AM GMT (09:14 PM EST)

USD/TRY, which opened the current 4 hour candle priced near 6.9438, is down 48 pips 0.07% since the previous 4 hours, marking a reversal from the candle prior — and the end of a 6 four-hour candle positive run. Out of the 37 instruments in the Forex asset class, USD/TRY ended up ranking 31st for the four-hour candle in terms of price change.

USD/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/TRY is up 113 pips (0.16%) since the previous day (opening today near 6.9398), marking the 4th day in a row it has gone up. Compared to its peers in the Forex, USD/TRY gave its buyers a return that ranked 5th in terms of percentage change since the previous day. Let’s take a look at price chart of USD/TRY.

USD/TRY

USD/TRY Technical Analysis

Coming into today the current price of USD/TRY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 100 day average, which is 747.7 pips away. For additional context, note that price has gone up 18 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.