USDTRY Up 21 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated November 11, 2021 3:15 GMT)

Currently, USDTRY’s rate is up 0.21 pips (0.02%) from the hour prior. USDTRY has seen its price go up 8 out of the past 10 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 100 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 20 and 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)

USDTRY is up 1127 pips (1.16%) since yesterday (opening today near 9.8379), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 5th in terms of percentage change since yesterday. Below is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

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. For additional context, note that price has gone up 6 out of the past 10 days.