USD/TRY Up 434 Pips in Last Hour, Came Into Today Up For the 3rd Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated January 7, 2022 1:37 GMT)

At the time of this writing, USDTRY’s rate is up 4.34 pips (0.32%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 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 940 pips (0.69%) since the day prior (opening today near 13.79083), marking the 3rd straight day it has gone up. Relative to other instruments in the Forex asset class, USDTRY ranked 3rd the day prior in terms of percentage price change. Let’s take a look at price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 9 out of the past 10 days.