USDTRY Down 46 Pips On Hourly Chart; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated June 10, 2021 18:18 GMT)

Currently, USDTRY’s rate is down -0.46 pips (-0.06%) from the hour prior. USDTRY has seen its price go down 5 out of the past 5 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. 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 8.5787, down 192 pips (0.22%) since the day prior. Relative to other instruments in the Forex asset class, USDTRY ranked 32nd the day prior in terms of percentage price change. Below is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

The first thing we should note is that USDTRY is now close to its 20 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days USDTRY’s price has gone up 6 them.