USDTRY Up 15 Pips in Last Hour, in an Uptrend Over Past 90 Days; Nears 20 Day Moving Average

Hourly Update

(Last Updated July 7, 2021 18:14 GMT)

Currently, USDTRY’s rate is up 0.15 pips (0.02%) from the hour prior. USDTRY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDTRY. Given that we see an uptrend 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 back and forth price flow continues for USDTRY, which started today off at 8.6869, up 238 pips 0.27% from the day prior. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 13th in terms of percentage change since the day prior. Here is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

Coming into today the current price of USDTRY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Or to simplify this another way, note that out of the past 14 days USDTRY’s price has gone up 8 them.

The View From Around the Web

Not much commentary on USDTRY that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Usdtry now will try to get upward, to make a certain stability above support zone ,We have two entry point ,But if the price can break the support zone and stablize there will get downward..————Tendency: upwardEntry: above 8.65 & 8.59Tp.: 8.72 & 8.79Sl.: stable under ( 8.580)