The reason of the sharp fall on friday was caused by 4.5billion usd sold by state-owned banks. Also the nightly overnight rate was increased from 24% to 25.5% these factors cannot shift uptrend into down. Thats why we can expect an up trend again in this week.
Thanks for the chart. I also do not believe to look for shorts given the fundamentals. Also would not think about shorting until I see a break of the trendline (lower channel) as you have noted. Hoping to see price reach 61.8% fib level around 6.35
@mrsceleste, As Im being a turkish citizen I do believe the fundamentals are strongly suggests long USDTRY. Even if this channel is broken downwards, I will be thinking its a bear trap. I expect the channel will be continued by rising trend..