USD/TRY Down 25 Pips; in an Uptrend Over Past 90 Days

USD/TRY Price Recap

USD/TRY enters today at 6.0068 in US dollars, down 25 pips (0.04%) from the day prior. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 29.18% from the day prior, and up 18.59% from the same day the week before. Relative to other instruments in the Forex asset class, USD/TRY ranked 21st yesterday in terms of percentage price change. Below is a price chart of USD/TRY.

USD/TRY Technical Analysis

Coming into today USD/TRY is now close to its 20 and 50 day averages, located at 5.9429 and 5.8982 respectively, and thus may be at a key juncture along those timeframes. Volatility for USD/TRY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. 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 30 days USD/TRY’s price has gone up 19 them.