(Last Updated September 13, 2022 1:38 GMT)
At the time of this writing, USDTRY’s rate is up 0.19 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 down 118 pips (0.06%) since the day prior (opening today near 18.22755), marking the 2nd day in a row a decrease has occurred. Out of the 39 instruments in the Forex asset class, USDTRY ended up ranking 30th for the day in terms of price change. Below is a price chart of USDTRY.
USDTRY Technical Analysis
Coming into today USDTRY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 16 out of the past 30 days.