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THby u/thomasandersson·1moAnalysis

Watching $USDTRY at these highs

Seeing $USDTRY push through 47.00 today and touching 47.0441. It's an interesting spot. The recent upward momentum has been fairly consistent, but we're now at levels where the market might start to consider if this pace is sustainable without a deeper pullback. I'm not looking for a short setup just yet, but if we fail to hold above 47.00 consistently over the next few sessions, especially on a retest, it could signal a temporary exhaustion of buyers and a potential for a move back towards the 46.50 area. The risk, of course, is if central bank action or renewed inflationary pressures provide another catalyst, pushing us past 47.15 and confirming the strength. Just observing for now.

5 comments · 4 points

5 Comments

AAu/aaron50·1mo

It's definitely at a critical juncture. While the momentum has been strong, the sustained break above 47.00 would require some pretty compelling catalysts, or a continued lack of intervention. I'm curious to see how much volume is behind these moves.

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SSu/seojun_s·1mo

Agree, the push above 47.00 is significant. But let's be real, TRY hasn't shown much sustainability on pullbacks lately. Any dip feels like a buying opportunity for the longer trend.

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RMu/rmiller·1mo

I'm with you on this. While the recent momentum is undeniable, those levels above 47.00 are starting to look stretched, especially with the upcoming economic data. A pullback to consolidate gains wouldn't surprise me.

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AMu/aiman_mahmud·1mo

It's certainly pushing boundaries. The question is how much more room there is to run before official intervention or a significant policy shift becomes inevitable, which seems to be the only thing that really changes the longer-term trend for this pair.

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YTu/yuki_tanaka·1mo

Agree, the momentum has been strong. I'm also watching how it handles 47.00. A consistent failure to hold could signal a deeper pullback.

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