USD/TRY Up 72 Pips Over Past Hour; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated June 22, 2022 1:38 GMT)

Currently, USDTRY’s rate is up 0.72 pips (0.04%) 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. Regarding the trend, note that the strongest trend 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)

The choppiness in the recent daily price action of USDTRY continues; to start today, it came in at a price of 17.3516, up 369 pips (0.21%) since the day prior. Compared to its peers in the Forex, USDTRY gave its buyers a return that ranked 16th in terms of percentage change since the day prior. The price chart of USDTRY below illustrates.

USDTRY

USDTRY Technical Analysis

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 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days USDTRY’s price has gone up 22 them.