USDTRY Down 1 Pips in Last Hour, Came Into Today Up For the 2nd Straight Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated February 15, 2021 23:16 GMT)

Currently, USDTRY’s rate is down -0.01 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDTRY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDTRY is up 22 pips (0.03%) since the day prior (opening today near 7.03414), marking the 2nd straight day it has gone up. Relative to other instruments in the Forex asset class, USDTRY ranked 22nd the day prior in terms of percentage price change. Below is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

Coming into today USDTRY is now close to its 20 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 20 day average, which is 1629.5 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days USDTRY’s price has gone down 9 them.

The View From Around the Web

Not much commentary on USDTRY that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Destek seviyesinin 6.85 bölgesinde son bulacağını düşünüyorum. Dolar tl kuru genellikle 200 günlük ortalama altına geçmiş hareketlerinde maksimum yüzde 5 olarak sarkmıştır. Kademeli pozisyon için bir miktar alınabilir.Kırmızı renk ile işaretli düşen trendin kırılmasından sonra retest yapar ise bir miktar daha alınmalıdır.Bu yükseliş için teyit niteliğinde olacaktır.Başar Ünsal