USDTRY Down 38 Pips On Hourly Chart; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated June 10, 2021 7:16 GMT)

Currently, USDTRY’s rate is down -0.38 pips (-0.04%) from the hour prior. USDTRY has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. 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)

USDTRY entered today at 8.5787, down 192 pips (0.22%) from yesterday. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 32nd in terms of percentage change since yesterday. Below is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

Notably, USDTRY is now close to its 20 day averages, located at 8.51 respectively, and thus may be at a key juncture along those timeframes. 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 6 out of the past 10 days.