USD/TRY Up 8 Pips Over Past Hour; Moves Up For the 11th Straight Day

Hourly Update

(Last Updated April 28, 2022 1:38 GMT)

At the moment, USDTRY’s rate is up 0.08 pips (0.01%) 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. 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)

USDTRY is up 81 pips (0.05%) since yesterday (opening today near 14.81674), marking the 11th straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, USDTRY ended up ranking 22nd for the day in terms of price change. Here is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

The first thing we should note is that USDTRY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days USDTRY’s price has gone up 11 them.