USDTRY Consolidation Will Likely End, Followed By A Gap Up
Trade Idea
Looking into the USDTRY the chart looks to be ready to start a breakout in the upward direction. The main indicator here is the Bond Rate (Turkey), which is much lower than 1. Typically, when the indicator is below 1, USDTRY moves up substantially.
Economics:
Turkey itself is a Country with huge inflation issues, and other economic crisis so in short, it shouldn't be surprising to see the market gap the USDTRY up.
Profit
USDTRY I believe has one of the highest potential gains in the current market. I believe a 10% move up on the USDTRY is going to happen, a 10% gap up without leverage is insane. Given how volatile the market is I wouldn't be surprised to see USDTRY push Alltime Highs sooner or later.
Looking into the USDTRY the chart looks to be ready to start a breakout in the upward direction. The main indicator here is the Bond Rate (Turkey), which is much lower than 1. Typically, when the indicator is below 1, USDTRY moves up substantially.
Economics:
Turkey itself is a Country with huge inflation issues, and other economic crisis so in short, it shouldn't be surprising to see the market gap the USDTRY up.
Profit
USDTRY I believe has one of the highest potential gains in the current market. I believe a 10% move up on the USDTRY is going to happen, a 10% gap up without leverage is insane. Given how volatile the market is I wouldn't be surprised to see USDTRY push Alltime Highs sooner or later.