(Last Updated February 17, 2021 23:16 GMT)
At the time of this writing, USDTRY’s rate is up 1.09 pips (0.16%) from the hour prior. The hourly chart shows that USDTRY has seen 3 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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 back and forth price flow continues for USDTRY, which started today off at 6.9863, up 279 pips 0.4% from yesterday. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 10th in terms of percentage change since yesterday. Let’s take a look at price chart of USDTRY.
USDTRY Technical Analysis
Notably, USDTRY is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 1665 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 down. Or to simplify this another way, note that out of the past 10 days USDTRY’s price has gone up 5 them.