USD/TRY Up 32 Pips Over Past Hour, 2 Day Up Streak Broken; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated May 4, 2022 1:37 GMT)

Currently, USDTRY’s rate is up 0.32 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDTRY. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

The back and forth price flow continues for USDTRY, which started today off at 14.81659, down 850 pips 0.57% from the day prior. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 35th in terms of percentage change since the day prior. Below is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

Coming into today USDTRY is now close to its 20 and 50 day averages, located at 14.7283 and 14.6 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days USDTRY’s price has gone up 8 them.

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; below is a short snippet from it to give you a taste.

USDTRY tendency upwardEntry: above 14.85TP: 14.90 & 14.95 & 15.30sl.: 14.83 risk 1.5%