USD/TRY Up 72 Pips On Hourly Chart, Tops All Forex; Makes Big Move Relative to Past Month

Hourly Update

(Last Updated May 11, 2022 1:41 GMT)

At the time of this writing, USDTRY’s rate is up 0.72 pips (0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDTRY has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 is up 2197 pips (1.45%) since the previous day (opening today near 15.32304), marking the 4th day in a row an upward move has occurred. USDTRY outperformed all 39 assets in the Forex asset class the previous day. Congrats to its holders! Let’s take a look at price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 11 out of the past 14 days.