This will be my views of USD/TRY Aug 2018 Please make sure to read the "update" comment as there will be changes along the way.
Cheers.
S0nic
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Comment
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Updated View on USD/TRY (13 Aug)
Lira is free fall and it should bring further misery to the turkish people.
We are in USD/TRY up trend. DO not look for short at this moment.
Insanity is what has put the lira on the international stage since a month ago. But that's not the end yet. There are not many opportunities to win back the lost trust of Turkish companies and people.
1. Significant increase in interest rates by the central bank.
2. If that does not help, Erdogan must ask the vote of confidence and withdraw, if necessary, to allow Turkey to make a fresh start with an "unpolluted" leader. But Erdogan will not do that because professional politicians prefer to blame everything else than to look for themselves.
3. If Turkey goes bankrupt as a debtor in 1 maybe 2 years, it will be the domino in international finance and lead to a next global financial crisis.
In my opinion, Lira is still in the wave 3 but look at it yourself as I assess the situation.
Jeandp
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Always wrong on your AT... you win somethimes ? lol Stop it please
SonicDeejay
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@Jeandp, you can choose not to read mine.
The choice is yours!
TradeHane
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I am Turk. Currently trading in TRY parities means suicide. Unfortunately, we are in a serious political and economic crisis.
SonicDeejay
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@alican_selcuk, Hopefully, the condition will improve soon for you.
Turkey is an glorious countyr.
1. Significant increase in interest rates by the central bank.
2. If that does not help, Erdogan must ask the vote of confidence and withdraw, if necessary, to allow Turkey to make a fresh start with an "unpolluted" leader. But Erdogan will not do that because professional politicians prefer to blame everything else than to look for themselves.
3. If Turkey goes bankrupt as a debtor in 1 maybe 2 years, it will be the domino in international finance and lead to a next global financial crisis.
In my opinion, Lira is still in the wave 3 but look at it yourself as I assess the situation.