Friday's extraordinary events in Turkey shocked the world. The first news of the coup attempt sent the Turkish lira
USDTRY
down nearly 6%. Euro and S&P futures fell while oil ICEEUR:CB1! rose. Usually I don't trade Forex, however this is opportunity one cannot miss. Since I am somewhat bullish 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).
USDTRY
down nearly 6%. Euro and S&P futures fell while oil ICEEUR:CB1! rose. Usually I don't trade Forex, however this is opportunity one cannot miss. Since I am somewhat bullish 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.