(Last Updated November 10, 2020 0:16 GMT)
At the moment, USDTRY’s rate is up 1.11 pips (0.14%) from the hour prior. This is the 2nd hour in a row USDTRY has seen its price head up. 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 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 is up 682 pips (0.81%) since the previous day (opening today near 8.48059), marking the 3rd straight day it has gone up. Relative to other instruments in the Forex asset class, USDTRY ranked 2nd the previous day in terms of percentage price change. Let’s take a look at price chart of USDTRY.
USDTRY Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 11 out of the past 14 days.