ozgurb86

No momentum until the next rate decision on 17th June

FX:USDTRY   U.S. Dollar / Turkish Lira
USDTRY is highly sensitive to interest rate decisions as it has long been a discussion between the government and the central bank .

The next meeting will be held on 17th June, and we can expect a pullback to 8.00 in case of a rise in the interest rate. Otherwise the price is prone to test the upper border of the channel since 2018 (around 9.00).

Please like if you find this idea useful πŸ‘ (●'β—‘'●)
Trade active: The price still has no momentum and waits for the interest rate decision
Trade closed manually: Turkish CB didn't change the interest rate (%19,00), we may see new all-time highs like 9,0000 if the resistance from Oct 2020 (8,6500) is broken.

Comments