(Last Updated March 26, 2021 23:16 GMT)
At the moment, USDTRY’s rate is down -2.74 pips (-0.34%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)
The choppiness in the recent daily price action of USDTRY continues; to start today, it came in at a price of 7.9412, up 225 pips (0.28%) since yesterday. Out of the 39 instruments in the Forex asset class, USDTRY ended up ranking 16th for the day in terms of price change. Let’s take a look at price chart of USDTRY.
USDTRY Technical Analysis
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 3293.5 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 8 out of the past 14 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 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
1-Under dotted line (7.7400) SELL to get target red line 2-Above dotted line (7.7500) BUY to get target blue line,