USDTRY Down 27 Pips On Hourly Chart, Moves Down For the 3rd Day In A Row; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated September 3, 2021 2:14 GMT)

At the moment, USDTRY’s rate is down -0.27 pips (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 is down 181 pips (0.22%) since the previous day (opening today near 8.2729), marking the 3rd day in a row it has gone down. Out of the 39 instruments in the Forex asset class, USDTRY ended up ranking 32nd for the day in terms of price change. Here is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

The first thing we should note is that USDTRY is now close to its 20 and 200 day moving averages, which may act as price barrier for the asset. 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 1534.2 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 16 out of the past 30 days. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much commentary on USDTRY that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

USDTRY düşen kamayla beraber,tekrar destek bölgesinde.Burdan tepki alirsa girişler grafik üzerinde belirttim.Hedefte günlük grafik kanalin üstü hedeftir.Yatirim tavsiyesi değildir.BOL KAZANÇLARİNİZ OLSUN.