USD/TRY Down 39 Pips in Last Hour, 2 Day Up Streak Snapped; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated June 16, 2022 1:38 GMT)

At the moment, USDTRY’s rate is down -0.39 pips (-0.02%) 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. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDTRY. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 choppiness in the recent daily price action of USDTRY continues; to start today, it came in at a price of 17.24744, down 417 pips (0.24%) since the previous day. Relative to other instruments in the Forex asset class, USDTRY ranked 22nd the previous day in terms of percentage price change. Below is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

The clearest trend exists on the 14 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 10 them.