USD/TRY Up 9 Pips On 4 Hour Chart, 2 Day Up Streak Broken; Nears 20, 50 and 100 Day Moving Averages

USD/TRY 4 Hour Price Update

Updated July 21, 2020 09:08 AM GMT (05:08 AM EST)

USD/TRY is up 9 pips (0.01%) since the previous 4 hours (opening the current 4 hour candle near 6.8577), marking the 2nd candle in a row an upward move has occurred. Relative to other instruments in the Forex asset class, USD/TRY ranked 18th the previous 4 hours in terms of percentage 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 6.85647, down 15 pips (0.02%) since yesterday. Compared to its peers in the Forex, USD/TRY gave its buyers a return that ranked 34th in terms of percentage change since yesterday. The price chart of USD/TRY below illustrates.

USD/TRY Technical Analysis

Notably, 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 20 day average, which is 13.2 pips away. Volatility for USD/TRY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days USD/TRY’s price has gone up 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!