TRY Short - Bear Market Continues Short

TURKISH LIRA / U.S. DOLLARICE

Description

⋅ Jul 27, 2021 4:25 PM

SUMMMARY: Short, looks like a failed breakout and trend is for further depreciation.

-- Technical --

Price is hitting against the 50 EMA is probably fall further.

Stock RSI is slight overbought

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*Not financial advice and is for educational purposes only. Always DYOR.

SO: What do you think, i? Let me know below.

Comment

⋅ Sep 28, 2021 1:30 PM

There is a floor at $0.12, suggest the Central Bank is intervening in FX markets to prop up the FX rate.

If FX rates falls over than $0.12, it may become impossible for Turkey MNC and large domestic firms to service their international eurodollar debts.

Trend Analysis Chart Patterns