diego.quevedosanchez

Bearish wedge, bullishly bullish price, correction 50% fibo

Short
FX:USDTRY   U.S. Dollar / Turkish Lira
Possibly the Turkish lira will depreciate more in the future, but right now the price has gone too up, seen the last times the price has passed by correcting 50% of the fibo of the previous upward movement, the price is up parabolic, and the experience with bitcoin, crisis 2008, 2001, tulip bubble, ... This depreciation is untenable, Turkey is not a country in bankruptcy, and this responds to news totally interested and sensationalist, the usd is at maximum speculative positions in the cftc report, the last time that happened fell to the dollar at minimum between November 2018 and February 2018, the most likely is that the price falls to area of 4-4,10, the market is too nervous with the high and unjustified appreciation of the dollar, since the debt, inflation, trade deficit and trade balance do not augur well for the Dollar.

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