(Last Updated October 14, 2020 2:15 GMT)
At the time of this writing, USDTRY’s rate is up 0.34 pips (0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 is up 317 pips (0.4%) since the previous day (opening today near 7.91588), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 7th in terms of percentage change since the previous day. Here is a price chart of USDTRY.
USDTRY Technical Analysis
Coming into today USDTRY is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days USDTRY’s price has gone up 8 them.