We have not changed an inch almost on the currency pair, and that is worrying. It is like flipping of a coin in seeking direction.
For now, SELL strategy better fit since we are near resistance 14.25 (14.3500 stop-loss) and also we are moving below the cloud coming sessions. This is usually a negative sign so I still believe we see lower 11.80-10.50 short-term.
Once the resistance 14.23 is broken, will ignite sharper up move.
TCB after the General Meeting 3.2. pours profits into the treasury (she did not do so last year), again a step in support of TRY. Nervousness and fear in the markets lead to the bearish approach and strategy of SELL, we see in the stock and the crypt. For example, this sentiment will be reflected in the forex and exchange rate, in the sense of better TRY at home than in the dust. I saw more buyers when distorted down and fewer buyers when distorted upwards. It's illogical, but probably the bulls are losing strength and the bearish trend is beginning.
peterbokma
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@Kalimero63, thanks for the feedback and will look at the chart for today soonest. tc
GreenPillow
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We have very strange times. Our government started to fund market not by central bank but treasury. So everybody trying to adapt. Government banks gives yearly %14 interest and the private banks are %21. So our interest rate is bad but not as bad as 14% actually and still not good enough through inflation. What ever happens TL will lost value in this system but as u sad it might not happen next few months. Thank you for graphic.
peterbokma
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@GreenPillow, welcome and yes these are unconventional times. This is not new, as there has been changes in the way we perceive things, and this will keep evolving. I am lookin at where we are now shortly.. and thanks for the feedback. tc