USD/TRY Up 174 Pips On Hourly Chart, Tops All Forex; Moves Up For the 7th Day In A Row

Hourly Update

(Last Updated November 17, 2021 1:45 GMT)

At the time of this writing, USDTRY’s rate is up 1.74 pips (0.17%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDTRY has now gone up 5 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend 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 up 2890 pips (2.88%) since the previous day (opening today near 10.3395), marking the 7th day in a row an upward move has occurred. For context, observe that the previous day was noteworthy in the sense that USDTRY bested all 39 of the assets in the Forex class. Let’s take a look at price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 10 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDTRY; just 1 sell signals and 3 buy signals. This imputes a buy/sell ratio of 3, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The collapse of the Turkish lira? We will see crazy rises of the dollar against the lira, and he will not have mercy on her until he puts her in a coma