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Tez8
Jul 1, 2021 5:42 PM

TRY Short - TRY is in a long term cyclical bear market. Short

FX_IDC:TRYUSD1W
TURKISH LIRA / U.S. DOLLARICE

Description

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SUMMARY : Short , see further downside to the TRYUSD.

-- Technical --
TRY is in a bear market below the EMAs and Gaussian Channel.

-- Fundamentals --
Excessive debt with in the corporate and government sectors.

Furthermore, Turkey has capital controls in place making it more difficult to transfer funds out of the control.
Trend AnalysisChart PatternsFundamental Analysis
Comments
Ryecatcher
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completely agree with you, I'd be looking to buy property there now.
Tez8
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@Ryecatcher, not financial advice but that sounds like a great play - if you can manage the risks.

Property over there is a multi-cycle low at the moment.
Ryecatcher
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@Tez8 yes this is my exact thought
Ryecatcher
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I have been in a while now
Tez8
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@Ryecatcher, nice. One of my favourite places in Europe.

I think Turkey is a gem of a location and long term I am very bullish for that place.
Tez8
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An upside note, if one is willing to invest into Turkey ,on a long term bet, now would be a good time.
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