After the Turkish president Recep Tayyip Erdoğan announced the measures that the Turkish government would take to improve their currency slippage, over $1 billion was sold to trade for the Turkish lira which caused the USDTRY to drop over 20% making the greatest recovery in any currency in over 40 years.
Understanding how the forex markets operate, the USDTRY will attempt to stabilize sooner or later, fears that it will drop to 20 USDTRY by the end of the year 2022, investors are hopeful that Turkey will recover. This is my technical analysis in the event that investors hold their positions and stabilize the Turkish lira.
Understanding how the forex markets operate, the USDTRY will attempt to stabilize sooner or later, fears that it will drop to 20 USDTRY by the end of the year 2022, investors are hopeful that Turkey will recover. This is my technical analysis in the event that investors hold their positions and stabilize the Turkish lira.
Trade closed: target reached
