USD/TRY Down 554 Pips On 4 Hour Chart, 2 Day Up Streak Snapped; Pin Bar Pattern Appearing on Chart

USD/TRY 4 Hour Price Update

Updated March 24, 2020 12:29 PM GMT (08:29 AM EST)

USD/TRY is down 554 pips (0.85%) since the last 4 hour candle (opening the current 4 hour candle near 6.4778), marking the 2nd candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, USD/TRY ranked 31st the last 4 hour candle in terms of percentage price change.

USD/TRY Daily New York Session Recap

Updated 21:00 GMT (17:00 EST)

The choppiness in the recent daily price action of USD/TRY continues; to start today’s post-New York session, it came in at a price of 6.54039, down 2 pips (0%) since the prior day’s New York session. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 71.25% from the day prior, and up 117.96% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/TRY ended up ranking 26th for the day in terms of price change. Here is a price chart of USD/TRY.

USD/TRY Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 20 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on USDTRY, with 7 buy signals on our radar and 0 sell signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.