Tez8

TRY Short - The Turkish Economy is in Trouble

Short
FX_IDC:TRYUSD   TURKISH LIRA / U.S. DOLLAR
SUMMARY: Short, one would imagine after years of decline, the TRY would be bottoming out.

However, the Stoch RSI is showing it is "overbought" -- bearish signal.



Link to my Bitcoin analysis below:
Comment: Buy Bitcoin or Stellar Lumen - it fixes this.
Comment: TRY continues to fall on continue inflation rises and pressure on the Turkish banking system.

https://www.zerohedge.com/markets/turkey...
Comment: It is important to highlight, another reason TRY continues to fall is because the FATF (West) has added Turkey to its grey list. In effect, Turkey is being sanctioned.

https://www.fatf-gafi.org/countries/s-t/...
Comment: The ccy is so oversold, would expect a bounce back up.

Comment: The upside is that it will be good for exporters

Comment: TRY is suffering from a double whammy.

Risk Off macro environment is sending the DXY higher , money gets pulled out of emerging markets.


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