(Last Updated April 9, 2021 3:16 GMT)
At the time of this writing, USDTRY’s rate is down -0.18 pips (-0.02%) from the hour prior. USDTRY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 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 choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
USDTRY End of Day Recap
Updated 00:30 GMT (04:30 EST)
USDTRY entered today at 8.1281, down 29 pips (0.04%) from the day prior. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 16th in terms of percentage change since the day prior. Let’s take a look at price chart of USDTRY.
USDTRY Technical Analysis
The first thing we should note is that USDTRY is now close to its 20 day averages, located at 7.9846 respectively, and thus may be at a key juncture along those timeframes. 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 1435.4 pips away. Volatility for USDTRY 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. For additional context, note that price has gone up 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 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.
1-Above 7.950 will get 8.388 then 8.530 2-stabilize under 7.900 will get 7.741 ..———————- But first option upward have more probability because make it stable above 7.95 and 8.130 this price is recommended to get 8.30 then 8.50 ,,,But another side downward should be break the 7.74 to take strong sell