Friday's extraordinary events in Turkey shocked the world. The first news of the coup attempt sent the Turkish lira FX:USDTRY down nearly 6%. Euro and S&P fell while oil ICEEUR:CB1! rose. Usually I don't trade , however this is opportunity one cannot miss. Since I am somewhat on euro in the short term (which is determined not by the term structure, but by the price levels I'd like to see), I prefer to open two-leg long position. (We might even see return to the 1.136 level in the future).
Comment: 1.098 is kinda line in the sand for me - lower boundary of balance zone. If EURO goes lower, I'm out.