USD/TRY Up 24 Pips On Hourly Chart; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated May 13, 2022 1:37 GMT)

At the moment, USDTRY’s rate is up 0.24 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 entered today at 15.41216, up 1285 pips (0.84%) from the previous day. Relative to other instruments in the Forex asset class, USDTRY ranked 4th the previous day in terms of percentage price change. Below is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days USDTRY’s price has gone up 7 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDTRY; just 3 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.33, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

No change in overall view.I am aware that we are moving up gradually (inch-by-inch), and this provides the chance to sell further @ 15.50-16.00 and 16.75 and above. We got a moon phase start as well, and perhaps we may see even short term move back towards 13.67 cloud support.Medium to long term we should see a correction back to 10.50-9.00.