USD/TRY Down 11 Pips in Last Hour, Entered Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated December 16, 2021 1:38 GMT)

At the time of this writing, USDTRY’s rate is down -0.11 pips (-0.01%) from the hour prior. USDTRY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 is up 4004 pips (2.78%) since the day prior (opening today near 14.81726), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 2nd in terms of percentage change since the day prior. Let’s take a look at price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

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. Or to simplify this another way, note that out of the past 30 days USDTRY’s price has gone up 21 them.