USD/TRY Up 156 Pips; in an Uptrend Over Past 14 Days

USD/TRY Price Recap

6.0533 (USD) was the opening price of the day for USD/TRY, resulting in yesterday being a day in which price moved up 156 pips 0.26% from the day prior. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 44.1% from the day before — and down 0.04% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/TRY ended up ranking 5th for the day in terms of day-over-day price change. Below is a price chart of USD/TRY.

USD/TRY Technical Analysis

Coming into today USD/TRY is now close to its 20 and 50 day averages, located at 5.9755 and 5.9218 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 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days USD/TRY’s price has gone up 18 them.