Relative to other instruments in the forex asset class, usd/try ranked 38th yesterday in terms of percentage price change.
As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.
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.
This imputes a buy/sell ratio of 1, which is neutral.
Or to simplify this another way, note that out of the past 10 days usd/try’s price has gone up 5 them.
As for the rationale, technical traders seem to be citing the appearance of divergence and relative strength index technical patterns.
Compared to its peers in the forex, usd/try gave its buyers a return that ranked 23rd in terms of percentage change since yesterday.
This imputes a buy/sell ratio of 0.17, which is quite bearish.
This imputes a buy/sell ratio of 5, which is very bullish.
For context, observe that the day prior was noteworthy in the sense that usd/try bested all 40 of the assets in the forex class.