(Last Updated November 2, 2022 1:37 GMT)
Currently, USDTRY’s rate is down -3.07 pips (-0.16%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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 back and forth price flow continues for USDTRY, which started today off at 18.59274, down 303 pips 0.16% from the day prior. Out of the 39 instruments in the Forex asset class, USDTRY ended up ranking 21st for the day in terms of price change. Let’s take a look at price chart of USDTRY.
USDTRY Technical Analysis
Notably, USDTRY is now close to its 20 and 50 day averages, located at 18.5901 and 18.4176 respectively, and thus may be at a key juncture along those timeframes. Volatility for USDTRY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!