USDTRY Down 22 Pips On Hourly Chart, 2 Day Up Streak Ended; Crosses 50 Day Moving Average

Hourly Update

(Last Updated September 15, 2021 1:15 GMT)

Currently, USDTRY’s rate is down -0.22 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 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 8.4195, down 477 pips (0.56%) since the day prior. Out of the 39 instruments in the Forex asset class, USDTRY ended up ranking 38th for the day in terms of price change. The price chart of USDTRY below illustrates.

USDTRY

USDTRY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDTRY crossed below its 50 day moving average yesterday. 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 50 day average, which is 415.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 and 30 day timeframes. For additional context, note that price has gone up 6 out of the past 10 days.