USDTRY Up 7 Pips in Last Hour, 5 Day Down Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated July 19, 2021 6:14 GMT)

At the time of this writing, USDTRY’s rate is up 0.07 pips (0.01%) 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 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, which opened today priced near 8.53154, is up 171 pips 0.2% 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 8th the day prior in terms of percentage price change. The price chart of USDTRY below illustrates.

USDTRY

USDTRY Technical Analysis

Coming into today USDTRY is now close to its 20, 50 and 100 day averages, located at 8.6558, 8.5984 and 8.4038 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone up 17 out of the past 30 days.