Market Overview for Towns/Turkish Lira (TOWNSTRY) – September 18, 2025

• TOWNSTRY surged 1.6% over 24 hours, hitting a high of 1.144 and closing at 1.111.
• Strong volume spikes were seen in the early morning hours, with notable bullish momentum.
• RSI showed overbought conditions early in the session before retreating toward equilibrium.
• Price remained within upper Bollinger Band range during key upward moves.
• A bullish engulfing pattern formed near the 1.110 support level, suggesting short-term resilience.

Market Summary

Towns/Turkish Lira (TOWNSTRY) opened at 1.089 on September 17 at 12:00 ET and closed at 1.111 on September 18 at 12:00 ET. The pair reached an intraday high of 1.144 and a low of 1.081. Over the 24-hour period, the total trading volume was 12,639,613.0 units, while the total notional turnover was approximately 14,181,472.9 TUR. The pair displayed a positive bias, with several bullish patterns and key resistance levels showing initial strength.

Structure & Formations

The 15-minute chart showed a series of bullish price actions, including a bullish engulfing pattern at 1.110, suggesting short-term buyers gained control after a consolidation phase. A doji appeared at 1.143, indicating indecision near the high of the session. Key support levels emerged around 1.110 and 1.107, with the latter providing a critical psychological floor that held during a morning pullback. Resistance levels were evident at 1.144 and 1.135, both of which were tested but not decisively broken.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a bullish crossover early in the session, reinforcing the upward bias. By the end of the session, the 20-period MA had risen above the 50-period MA, confirming a potential short-term bullish phase. On the daily chart, the 50-period and 200-period moving averages remained in a bullish alignment, suggesting the medium-term trend remains intact. The 100-period MA acted as a dynamic support around 1.108, which was tested but not breached during a late-evening correction.

MACD & RSI

The MACD line showed a positive divergence with the price in the early hours of the session, indicating accumulating bullish momentum before a pullback. RSI reached overbought levels around 75 in the early morning, then retreated to neutral territory by midday, suggesting a period of consolidation. A bearish divergence appeared in the late afternoon, which preceded a small retracement toward the 1.110 level. However, the RSI bounce from 1.110 reinforced its importance as a support level.

Bollinger Bands

Volatility was moderate throughout the session, with price frequently testing the upper and lower Bollinger Band boundaries. A significant expansion of the bands occurred during the early morning hours, as price surged toward 1.144. The band width narrowed later in the morning and again in the late afternoon, suggesting periods of consolidation and reduced volatility. Price consistently closed above the 20-period MA within the upper half of the bands, indicating a positive bias.

Volume & Turnover

Volume spiked sharply at 03:00 ET with a candle reaching a high of 1.144 and a volume of 367,504, which was the second-highest volume of the session. This large volume confirmed the bullish breakout above key resistance levels. However, the volume declined significantly in the afternoon, coinciding with a pullback toward 1.110. The total turnover aligned with the volume trend, peaking at the same 03:00 ET candle. Divergences were noted when volume failed to confirm price strength during the late-day consolidation phase.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute swing from 1.081 to 1.144, the 61.8% retracement level fell around 1.117, which was tested and held during a midday correction. The 38.2% level at 1.130 also acted as a key resistance level, which was approached but not broken. On the daily chart, the 61.8% retracement of the recent 2025 low-to-high swing is near 1.114, a level that has already acted as a minor support.

Backtest Hypothesis

Given the observed bullish engulfing pattern at 1.110 and the strong volume confirmation at 1.144, a potential backtesting strategy could involve a long entry at the close of the bullish engulfing candle, with a stop-loss placed below the low of the pattern and a target aligned with the 1.144 resistance. A trailing stop could be activated as the pair approached the upper Bollinger Band, capturing part of the momentum seen during the early-morning rally. This approach would align with the MACD divergence and RSI overbought signal, suggesting a high-probability trade setup.