Scenario: return by means of "Fiffi" theory @ USD/TRY

OANDA:USDTRY   U.S. Dollar / Turkish Lira
USD / TRY is already triple (D1-H4-H1) overbought. If the the first D1 candle close above the north BB, the course probably turn to the middle band. Target price is 7.30000. Technical resistance: 8.50000 (magic number)
The currency pair can turn earlier, if the TCMB make a verbal or non-verbal intervention. Be prepared!


I think there is no "overbought" in currencies. USD supply is decreasing because of stimulus failure, and USDTRY can only go up.
+1 Reply
ViktorGali Fx-Noobie
@Fx-Noobie, thanks for your opinon! My expectation is the next: 2nd stimulus is coming in next weeks, and TCMB should make an intervention soon.
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