(Last Updated April 7, 2021 3:16 GMT)
At the moment, USDTRY’s rate is up 0.66 pips (0.08%) from the hour prior. The hourly chart shows that USDTRY has seen 2 straight up hours. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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)
The choppiness in the recent daily price action of USDTRY continues; to start today, it came in at a price of 8.1266, up 285 pips (0.35%) since yesterday. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 11th in terms of percentage change since yesterday. Here is a price chart of USDTRY.
USDTRY Technical Analysis
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 2038.8 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 16 out of the past 30 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 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Timeframe 4H:1-Under dotted line (7.7400) SELL to get target red line 2-Above dotted line (7.7500) BUY to get target blue line,The targets is 8.5000