USD/TRY Up 18 Pips Over Past 4 Hours, Makes Big Move Relative to Past Month; Nears 20, 50 and 100 Day Moving Averages

USD/TRY 4 Hour Price Update

Updated July 23, 2020 09:25 AM GMT (05:25 AM EST)

USD/TRY is up 18 pips (0.03%) since the previous 4 hours (opening the current 4 hour candle near 6.8485), marking the 2nd candle in a row an upward move has occurred. Compared to its peers in the Forex, USD/TRY gave its buyers a return that ranked 16th in terms of percentage change since the previous 4 hours.

USD/TRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USD/TRY, which started today off at 6.84484, down 37 pips 0.05% from yesterday. Relative to other instruments in the Forex asset class, USD/TRY ranked 37th yesterday in terms of percentage price change. The price chart of USD/TRY below illustrates.

USD/TRY Technical Analysis

Coming into today USD/TRY is now close to its 20, 50 and 100 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 77.8 pips away. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 9 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!