USDTRY Up 17 Pips Over Past Hour, 3 Day Down Streak Ended; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated November 17, 2020 2:16 GMT)

At the time of this writing, USDTRY’s rate is up 0.17 pips (0.02%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDTRY has now gone up 4 of the past 5 hours. 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 20, 50, 100 and 200 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, which opened today priced near 7.68776, is up 483 pips 0.63% since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. Out of the 40 instruments in the Forex asset class, USDTRY ended up ranking 9th for the day in terms of price change. Below is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

Notably, USDTRY is now close to its 50 day averages, located at 7.8572 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone up 9 out of the past 14 days.