The common European currency continues to book new high levels against the Turkish Lira. On all timeframes and scales the currency pair is surging and it has been like that for a few years.
In the short term the pair is set to continue the surge. It should occur after the currency exchange rate finds support in a combined support cluster near the 4.66 mark.
Afterwards the Euro will have the range up to the 4.7930 level free from resistance against the Turkish currency.
In the short term the pair is set to continue the surge. It should occur after the currency exchange rate finds support in a combined support cluster near the 4.66 mark.
Afterwards the Euro will have the range up to the 4.7930 level free from resistance against the Turkish currency.
The recent decline seems to be following the template of the USDTRY.
We have mapped the most junior channel down and it can be seen below.