USD/TRY Up 4521 Pips On Hourly Chart; 5 Day Down Streak Snapped

Hourly Update

(Last Updated December 27, 2021 1:36 GMT)

At the time of this writing, USDTRY’s rate is up 45.21 pips (4.17%) from the hour prior. The hourly chart shows that USDTRY has seen 3 straight up hours. 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, which opened today priced near 10.92793, is up 3279 pips 3.09% since the day prior, marking a reversal from the day prior — and the end of a 5 day negative run. Relative to other instruments in the Forex asset class, USDTRY ranked 2nd the day prior 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. For additional context, note that price has gone up 5 out of the past 10 days.