USDTRY Up 5 Pips Over Past Hour, Moves Up For the 2nd Day In A Row; Crosses 50 Day Moving Average

Hourly Update

(Last Updated September 13, 2021 11:15 GMT)

Currently, USDTRY’s rate is up 0.05 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 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)

USDTRY is up 119 pips (0.14%) since the day prior (opening today near 8.4672), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 9th in terms of percentage change since the day prior. Below is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

First things first: USDTRY crossed above 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 33.1 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 8 out of the past 14 days.