USDTRY Up 41 Pips Over Past Hour

Hourly Update

(Last Updated September 23, 2020 0:14 GMT)

At the time of this writing, USDTRY’s rate is up 0.41 pips (0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDTRY has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 back and forth price flow continues for USDTRY, which started today off at 7.61665, up 752 pips 1% from the day prior. Out of the 40 instruments in the Forex asset class, USDTRY ended up ranking 5th for the day in terms of price change. Let’s take a look at price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

Notably, USDTRY is now close to its 20 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 12 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 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

This pair has the marking of a sell structure. But correction keeps extending. Trade with care use a stop loss.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram