Currency pair USDTRY shows a ratio of the American dollar and Turkish lira and belongs to exotic trading instruments. The currency quotes of USDTRY show how many Turkish lira it is necessary to pay for the acquisition of one US dollar, which acts as the base currency, and Turkish lira — quoted respectively. The currency pair shows the greatest activity during working hours of the European and American trading sessions.
Therefore, it is possible to trace the activity of the USDTRY trading instrument seasonally, travel business has a huge impact on the economy of Turkey. One more factor giving support to the economy of Turkey is the real estate sector.
When forecasting movements of the price of USDTRY it is necessary to consider economic and geopolitical changes in the USA, and also a general economic condition of Turkey. This pair is recommended for successful long-term trading strategy, and also scalping. Owing to the raised volatility inexperienced traders need to avoid this trading instrument in the work.