No momentum until the next rate decision on 17th June
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).
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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 👍 (●'◡'●)
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.
