(Last Updated June 6, 2022 1:38 GMT)
Currently, USDTRY’s rate is up 1.1 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
USDTRY End of Day Recap
Updated 00:30 GMT (04:30 EST)
After 3 up days, USDTRY snaps its streak, falling 665 pips (-0.4%) over the past day to close at an exchange rate of 16.39783. Relative to other instruments in the Forex asset class, USDTRY ranked 32nd the previous day in terms of percentage price change. Below is a price chart of 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 30 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. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.