(Last Updated July 14, 2021 0:15 GMT)
At the time of this writing, USDTRY’s rate is up 0.16 pips (0.02%) from the hour prior. The hourly chart shows that USDTRY has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)
The back and forth price flow continues for USDTRY, which started today off at 8.6344, down 260 pips 0.3% from the day prior. Out of the 39 instruments in the Forex asset class, USDTRY ended up ranking 37th for the day in terms of price change. Here is a price chart of USDTRY.
USDTRY Technical Analysis
Coming into today USDTRY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. For additional context, note that price has gone up 17 out of the past 30 days.