USD/TRY Up 44 Pips On 4 Hour Chart; Moves Up For the 2nd Day In A Row

USD/TRY 4 Hour Price Update

Updated April 06, 2020 11:23 AM GMT (07:23 AM EST)

USD/TRY entered the current 4 hour candle at 6.7334, up 44 pips (0.07%) from the last 4 hour candle. Relative to other instruments in the Forex asset class, USD/TRY ranked 15th the last 4 hour candle in terms of percentage price change.

USD/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/TRY is up 146 pips (0.22%) since the day prior (opening today near 6.729), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, USD/TRY gave its buyers a return that ranked 5th in terms of percentage change since the day prior. Here is a price chart of USD/TRY.

USD/TRY Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on USDTRY, with 5 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 5, which is very bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Using our Fibonacci retracement tool; point B is approximate of 50% of XA leg….D should fall at a 0.886 retracement of XA leg….The content of this speculation (including all data) is organized and published by Nirvana Trades & Investments for the sole purpose of education and assistance in making independent investment decisions.