(Last Updated July 15, 2021 2:1 GMT)
At the moment, USDTRY’s rate is up 0.15 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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 down 334 pips (0.39%) since the previous day (opening today near 8.5828), marking the 3rd straight day a decrease has occurred. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 29th in terms of percentage change since the previous day. Below is a price chart of USDTRY.
USDTRY Technical Analysis
Notably, USDTRY crossed below its 50 day moving average yesterday. 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. Or to simplify this another way, note that out of the past 30 days USDTRY’s price has gone up 16 them.
The View From Around the Web
Not much commentary on USDTRY that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.
The Central Bank of Turkey maintains its benchmark interest rate at 19% for five consecutive months, in line with market consensus.