USD/TRY Up 88 Pips Over Past Hour, Entered Today Up For the 2nd Day In A Row; Crosses 20 Day Moving Average

Hourly Update

(Last Updated November 10, 2022 1:46 GMT)

At the time of this writing, USDTRY’s rate is up 0.88 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 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 579 pips (0.31%) since the previous day (opening today near 18.60366), marking the 2nd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, USDTRY ranked 12th the previous day in terms of percentage price change. Let’s take a look at price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

First things first: USDTRY crossed above its 20 day moving average yesterday. 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 19 out of the past 30 days.