(Last Updated September 23, 2021 1:59 GMT)
At the time of this writing, USDTRY’s rate is up 0.63 pips (0.07%) from the hour prior. The hourly chart shows that USDTRY has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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)
The back and forth price flow continues for USDTRY, which started today off at 8.6431, up 231 pips 0.27% from the day prior. Relative to other instruments in the Forex asset class, USDTRY ranked 13th the day prior in terms of percentage price change. Here is a price chart of USDTRY.
USDTRY Technical Analysis
Notably, USDTRY is now close to its 20, 50 and 100 day averages, located at 8.4462, 8.4647 and 8.5403 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 100 day average, which is 1028.4 pips away. The clearest trend exists on the 14 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 90 day timeframe. Or to simplify this another way, note that out of the past 10 days USDTRY’s price has gone up 7 them.