(Last Updated September 22, 2022 1:37 GMT)
Currently, USDTRY’s rate is up 0.23 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists 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 214 pips (0.12%) since the day prior (opening today near 18.34059), marking the 3rd consecutive day an increase has occurred. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 13th in terms of percentage change since the day prior. The price chart of USDTRY below illustrates.
USDTRY Technical Analysis
The first thing we should note is that 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 8 out of the past 14 days.