Buyers have made the transition towards capitulation. This leaves Turkey with a huge problem, and the process of the cleanse in local banks will continue. CBRT will defend with its 'customary inventiveness' very soon as they keep a stern eye on 7.8xx.
It is an unfortunate position that...
🔸 Ceilings and profit taking
I am starting to unwind partials in the USDTRY longs with all of these moves so full of energy in the current chapter it wont be long until the retailers and bloomberg crowd are on board. There is lots of thunder and lightening across the global economy, Turkey will catch more than the sniffles but it is prudent we stick to the plan...
Price broke up from major liquidity base and is in unchartered waters. In such case I would watch round numbers levels. I would expect a reaction at 8000. Watch what price does at that level.
Right now we hit October H3 reversal level. There is a chance of reversal here.
USD TRY shouldn't close today above 7.1 for a lot of technical reasons I cannot possibly mention here.
Let me just say that there should be a ton of resistance there.
Right now it is surprisingly holding very close to the top.
If it doesn't close and spends a few days in this area the possibility's become increasingly bullish.
In the event that it closes above...
Tam burada 200bps faiz artırdık
Etkisi ne olacak? Esas sorumuz bu.
Düzeltme tetiklenirse aşağıda destek olarak 7.26
Tepe aşılırsa yukarıda 8.25 bizi bekliyor.
Right here we raised 200bps interest rate
Our main question is what will be the effect?
7.26 as support below if correction triggered
If USDTRY hit and pass the higher-high 8.25 above awaits us.
. There is a possibility of temporary retracement to suggested support line (7.4086). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. USDTRY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a...
📌 The capitulation
After PA in December 2018 showed us the basing formation it has been all 'one way trafffic'
This may lead you to wonder why it is so important to understand the fundamentals and definition of current capital flows, because it is then possible to build one's whole...
The trend of TRY is clear, in current situation
monetary policy is not enought to stabilize
situation. Turkey needs strong physical changes
and innovative solutions, because turism is not
relable and stable part of its economy. Not
anymore and this is the main reason
why lira has dropped sharply.
8.0000 - 7.0808 is the range of Lira for
next 12 months.
The CBRT responded to the recent lira weakening by tightening the liquidity conditions in a significant way,
although more may need to be done to stabilize the markets. The CBRT first made a press announcement
stating that a) liquidity measures introduced to support growth would be phased out; and b) all available
instruments would be used to reduce market...