USDTRY with valued for the number of US dollars printed over the last months. By dividing USDTRY by M2 (money supply), I believe we can get a valuation that respects inflation.
Now we have to pay attention to the yellow trend-line and how the price action plays against that.
Now we have to pay attention to the yellow trend-line and how the price action plays against that.
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The full picture
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The Pitchfork Structure
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USDTRY valued per DXY
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We would divide by DXY because of the proportional relationship. DXY falls, USDTRY falls as USD loses power. DXY rises, USDTRY rises, as USD gains more prominence.
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Teasing us with a breakout