Hello, Friends! USD/TRY appeared on my radar today With the recent news and corresponding price action Making me bullish on the pair Therefore, a move up is to be expected BUY!
@EliteTradingSignals, The Turkish central bank will take steps to strengthen the currency on Thursday. The Turks are beginning to believe, selling assets and returning. Erdogan has an impact on finances and will push to number below 10. USDTRY is overbought and speculators will want to get rid of this pair. Fundamentals and indicators apply to stable currencies, there is political pressure on the currency and vice versa.
Kalimero63
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I have found on web: private banks must convert 10% of their foreign currency deposits into Turkish lira by January 21 and 20% by March 18. This means that $ 12 billion of the banks' total deposits of $ 120 billion will be redeemed by January 21 and the remaining $ 28 billion by March 18. In this case, the Turkish lira will gain in value, inflation will fall, "interest foam" will be taken ... Summer aside, at the end of March, the dollar was 9.5 lira. Have a nice day.
@EliteTradingSignals, You understand graphs and indicators and you do it well. It works in stable markets. I am looking for political and economic context for an unstable currency. A good exchange rate and interest will persuade citizens to return to TRY, at least temporarily. The measures I have pointed out aim to do this. There may be a rinse as in December, with investors joining en masse to maximize profits or minimize losses. We'll see.
GreenPillow
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I see one BB and one resistance line. Is that all or am i missing somthing?