(Last Updated October 13, 2020 2:16 GMT)
At the time of this writing, USDTRY’s rate is down -1.2 pips (-0.15%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 and 20 hour moving averages have been crossed, with price now being below them. 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)
The choppiness in the recent daily price action of USDTRY continues; to start today, it came in at a price of 7.88414, up 293 pips (0.37%) since yesterday. Relative to other instruments in the Forex asset class, USDTRY ranked 6th yesterday in terms of percentage price change. Here is a price chart of USDTRY.
USDTRY Technical Analysis
Notably, USDTRY is now close to its 20 day averages, located at 7.7103 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 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.