A very clear inverted cup and handle formation is created. MACD, RSI and all indicators, trend line, macro economic news, political news flow shows us the same thing.
USDTRY PAIR WILL DROP MORE AND MORE!!!
Just stop dreaming about any continuous upward movement. I am sharing my analysis, and telling you the just exact points for short entry. And it always works. Because all the story about the rally of USD has far gone. That doesn't mean Turkish economy will be better. But the exchange rate is not everything about the economy. Turkish Lira offers very high interest rate, and inflation started turning down from the peaks.
Now, inverted cup and handle formation is one of the most reliable patterns, and i am sure we will expect another downward slide at USDTRY. So pair will reach 5.08 before the end of January.