USDTRY Down 54 Pips On Hourly Chart; Moves Up For the 3rd Consecutive Day

Hourly Update

(Last Updated May 31, 2021 2:16 GMT)

At the time of this writing, USDTRY’s rate is down -0.54 pips (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDTRY is up 147 pips (0.17%) since the previous day (opening today near 8.5631), marking the 3rd consecutive day an increase has occurred. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 11th in terms of percentage change since the previous day. The price chart of USDTRY below illustrates.

USDTRY

USDTRY Technical Analysis

The first thing we should note is that USDTRY is now close to its 20 day averages, located at 8.3981 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days USDTRY’s price has gone up 8 them.