USD/TRY Up 56 Pips Over Past Hour; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated September 12, 2022 1:37 GMT)

At the time of this writing, USDTRY’s rate is up 0.56 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend 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 entered today at 18.23939, down 72 pips (0.04%) from yesterday. Out of the 39 instruments in the Forex asset class, USDTRY ended up ranking 17th for the day in terms of price change. The price chart of USDTRY below illustrates.

USDTRY

USDTRY Technical Analysis

Notably, USDTRY is now close to its 20 and 50 day averages, located at 18.1302 and 17.8283 respectively, and thus may be at a key juncture along those timeframes. Volatility for USDTRY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 16 out of the past 30 days.