USDTRY Down 37 Pips Over Past Hour; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated June 9, 2021 20:16 GMT)

At the moment, USDTRY’s rate is down -0.37 pips (-0.04%) from the hour prior. The hourly chart shows that USDTRY has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. 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)

USDTRY entered today at 8.5979, up 234 pips (0.27%) from the day prior. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 4th in terms of percentage change since the day prior. The price chart of USDTRY below illustrates.

USDTRY

USDTRY Technical Analysis

Notably, USDTRY is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 18 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much commentary on USDTRY that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com that we thought you might enjoy.