This imputes a buy/sell ratio of 1.33, which is bullish.
As for the rationale, technical traders seem to be citing the appearance of channel, divergence, fibonacci and trendline technical patterns.
Compared to its peers in the forex, usdtry gave its buyers a return that ranked 39th in terms of percentage change since yesterday.
It’s been a feast for bears operating on an hourly timeframe, as usdtry has now gone down 8 of the past 10 hours.
Of note is that the 20 hour changed directions on usdtry; it is now pointing down.
This is the 2nd hour in a row usdtry has seen its price head up.
For additional context, note that price has gone up 10 out of the past 14 days.
Or to simplify this another way, note that out of the past 30 days usdtry’s price has gone up 22 them.
This is a reversal of the price action on the previous hour, in which price moved up.
Price action traders may also wish to note that we see a doji candlestick pattern on usdtry.