USDTRY Up 138 Pips Over Past Hour, Moves Up For the 3rd Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 12, 2021 5:15 GMT)

Currently, USDTRY’s rate is up 1.38 pips (0.14%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDTRY has now gone up 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 up 520 pips (0.53%) since the previous day (opening today near 9.8899), marking the 3rd consecutive day it has gone up. Relative to other instruments in the Forex asset class, USDTRY ranked 4th the previous day in terms of percentage price change. Let’s take a look at 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 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days USDTRY’s price has gone up 21 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDTRY; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Technical view on the market, which isn’t an invitation to buy or sell, But only for learning purposes and sharing my thoughts.Attention :Always use a proper risk management in trading.Be safe and trade responsiblyDo not forget to FOLLOW me so you don’t miss the upcoming analysis ✅