To be honest it already feels ridiculous to receive 30 TRY for 1 euro!
It just doesn't feel right, sorry.
This time I will talk no politics, no Erdogan, no West or East (Russia lost although they won so Turkey always goes with the West in the end anyways), no central bank plans etc
This time we talk chart only:
I was expecting maybe stop at 31TRY/1EUR, finally...
Given that I am Long on EURUSD this period i prefer to trade EURTRY instead of USDTRY:
Check my post here for targets:
Thoughts:
Some governments (not the people) prefer their currency cheap, it helps with exports.
People choose their government. In this case Erdogan has been re-elected.
A cheaper Turkish lira supports the plan of what I will dare to call...
Amerika Dollari karsisinda deger kazanmaya baslayan Turk lirasi, Amerika dollari gectigimiz 21 Haziran 2021 Tarihinde donemin en yuksek seviyesine yani 8.8 Turk Lirasina ulastiktan sonra 28 Haziran 2021 zamanindan bu yana deger kaybetmeye yani Turk Lirasi deger kazanmaya basladi. Eger bu dusus yani Turk Lirasinin deger kazanmasi devam ederse Amerikan dolari ilk...
THIS USDTRY SETUP IS AN OVERLAPPING TREND LINE AND 200 EMA TRADE. SINCE TRY ,HAS A INCREASED VOLATILITY ESPECIALLY WHEN POLITICAL UNCERTAINTY RISES , IS AN ADVANCE CURRENCY TO PLAY WITH. SO, I AM GOING HERE WITH ZONE ESPECIALLY FOR THE ENTRY AND THE STOP. YOU CAN PICK YOUR EXACT ENTRY REGARDING TO YOUR RISK LEVEL. I AM A HUGE BELIEVER THAT THIS PAIR CAN GO ONLY...
Expecting USDTRY to end correction around 4.80-5.00 and consolidate there for a while and start a new rally in 2019.
This is how trends works, never use straight lines or channels to forecast future of financial instruments. Trends are not linear, trends are exponential.
