A quick update on the future of the Turkish Lira (TL):
Interest rates will rise to the range of 30% to 35% and will remain high for the following years (possibly 2-3 years). The Turkish Central Bank will stop printing vast amounts of money, and getting loans for purchasing houses or cars will become difficult. This action will lower inflation for few years. TL...
building a SHORT position for the SHAKEDOWN
and BASE BUILDING towards 10.0 levels
-
#LongShort
===
Fundamentals:
it takes 20years to settle debt or unfinished obligations by a company country and aliens...
til then.. its currency be it fiat land or spirit is devalued as form of compensation
in layman; a person heavily in debt lacks BARGAINING POWER over...
There is strong resistance between sellers and buyers of the Turkish currency, and the monthly candle that ended there is strong support for a further decline against the dollar, but there is an indication that the rise is nearing the end and will stop soon in the shaded area above, and I believe it will become an area of resistance and strong support for the...
Tether is eventually going to crack and will become depeg from the USD. When this happens - much like TerraUSD, it will lose massive amounts of marketcap and come tumbling down to pennies on the dollar. This will likely coincide with the failure/collapse of Binance.
Don't hold your buying power in USDT, USDC or any other stable coin or you could lose it in a flash!
For the last months, the Turkish lira has been traded near the all-time lows against USD. I think that demand for the lira would shift soon, and it would trigger a breakout of resistance of 18.7 with the first psychological price target of TRY 20 for 1 USD with consolidation near 25 in the second half of the year.
In terms of technical analysis, I do not see any...
The dollar pair stabilized against the Turkish lira USD/TRY during today's trading, to trade the Turkish currency at its lowest level ever against the dollar. On the American front, the dollar rose against major currencies after the Federal Reserve's decision last week to raise interest rates, as the dollar received support after a limited decline. At the present...
When we look at the monthly logarithmic chart, we see that it is in a parabolic uptrend from 2008. With the inflation that comes with incredible money printing, there is a possibility that it will reach the levels of 27-35 TRY.
It is not investment advice.
Preferred direction: BUY
Comment: The outlook for the EURUSD currency pair is quite optimistic, despite the fact the last week passed as part of the strengthening of the US dollar. At the moment there is a potential false breakdown of the level 1.09071. As soon as the price closes above this level, then buy trades immediately take effect. The first target is at...
Preferred direction: SELL
Comment: The pressure on the euro caused by fundamental factors, especially on Friday, forced buyers to retreat significantly and take aside plans to go to 1.10677. Now, the best way would be to wait for the approach to the support area 1.07882-1.08312.
Thank you for like and share your views!
Preferred direction: SELL
Comment: The Japanese yen has been rising, and trying to catch a V-revers is not the best idea. However, the pair has a good potential for a correction against the background of a well-established pattern of horizontal levels, as well as volume distribution. In addition, the yen will also actively respond to the speeches of the head...
Preferred direction: BUY
Comment: The EURUSD currency pair continues to trade near the level of 1.09526, but buyers are still unable to close higher. For potential growth, this is a necessary item for a successful entry point with a small Stop Loss. It is also necessary to remember about the SELL-set up, if the sellers still manage to close below the local...
%19 Interest rate, huge debts, vaccination progress is still very low.
Turkish Central Bank manager kicked out because of interest rates, but we have still a huge interest rate and USD/TRYis still going forward. What Turkey could do? No tourism income for now, no leverage hand for interest anymore.
Unfortunately, TRY will be 10 soon if we close daily above 8.58....
Preferred direction: BUY
Comment: The focus of attention still at the level 1.09526, that acts as a local resistance. The closest approach to this level, combined with a price close above this level, will generate buying in the market with the target at the level 1.10677. Closing the price above the level may be today.
Thank you for like and share your views!
Preferred direction: BUY
Comment: Over the past week, buyers have significantly pushed the price up and fixed it at the highs, preventing the instrument from rolling back lower. Most likely, the movement against the dollar would continue for many instruments, and especially for EURUSD. Active trades will definitely resume only on Tuesday, it is on this day...
