USDTRY Down 165 Pips in Last Hour, Crosses 20 Day Moving Average; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated November 12, 2020 1:16 GMT)

Currently, USDTRY’s rate is down -1.65 pips (-0.21%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDTRY has now gone down 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USDTRY continues; to start today, it came in at a price of 8.15745, up 1168 pips (1.45%) since the day prior. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 3rd in terms of percentage change since the day prior. Let’s take a look at price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDTRY crossed above its 20 day moving average yesterday. 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 8 them.