USD/TRY Up 42 Pips in Last Hour, Came Into Today Down For the 2nd Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated August 2, 2022 1:36 GMT)

At the time of this writing, USDTRY’s rate is up 0.42 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 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDTRY. Given that we see downtrend on the 20 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)

USDTRY is down 143 pips (0.08%) since yesterday (opening today near 17.8995), marking the 2nd straight day a decrease has occurred. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 21st in terms of percentage change since yesterday. Below is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

Notably, USDTRY is now close to its 20 day averages, located at 17.5391 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days USDTRY’s price has gone up 20 them.