USDTRY Up 14 Pips On Hourly Chart, Moves Up For the 6th Straight Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated October 9, 2020 2:16 GMT)

At the time of this writing, USDTRY’s rate is up 0.14 pips (0.02%) from the hour prior. The hourly chart shows that USDTRY has seen 2 straight up hours. 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDTRY is up 582 pips (0.74%) since the previous day (opening today near 7.9405), marking the 6th straight day it has gone up. Out of the 40 instruments in the Forex asset class, USDTRY ended up ranking 2nd for the day in terms of price change. Let’s take a look at price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days USDTRY’s price has gone up 25 them.