(Last Updated September 4, 2020 9:49 GMT)
At the moment, USDTRY’s rate is down -2.22 pips (-0.3%) 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. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. 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 196 pips (0.27%) since the previous day (opening today near 7.37904), marking the 3rd day in a row it has gone up. Relative to other instruments in the Forex asset class, USDTRY ranked 9th the previous day in terms of percentage price change. Here is a price chart of USDTRY.
USDTRY Technical Analysis
Coming into today USDTRY is now close to its 20 day averages, located at 7.3236 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 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days USDTRY’s price has gone up 7 them.