if we get the short singal we may target the 3.19 level the next important demand level is between 3.1850 and 3.1770 when price arives there we have to look at price behavior and look for further price direction.
the move was really fast and strong...and what will be with TRY? Let's see what will they say tomorrow.
The number of tourists will deffinitly reduce the next future..this fact will also influence on TRY in a bad way..
Anyone has an explanation why USDTRY is up even with a failed military coup?
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see moodys report ( note downgrade risk)
country is chaos and foreign investors are uneasy
mass firings/arrests in government/police/army/universities
presidential system may be on cards of Erdogan leading more uncertainity
panic selling on stock market adding more technical selling and technical selling of TRY
{quote} see moodys report ( note downgrade risk) country is chaos and foreign investors are uneasy mass firings/arrests in government/police/army/universities presidential system may be on cards of Erdogan leading more uncertainity panic selling on stock market adding more technical selling and technical selling of TRY
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Thanks so much! The next few days might give an opportunity to buy Turkish Lira.
I'm already shorting from 3.04 . I'm hoping if it approaches 3.07 the central bank will intervene. Erdogan will probably order it, regardless of any economic sense.
I'm already shorting from 3.04 . I'm hoping if it approaches 3.07 the central bank will intervene. Erdogan will probably order it, regardless of any economic sense.
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central bank may not get involved yet as they like usd expensive to maintain foreign attarction
{quote} when 3.11(eurtry all time high) is thrumbled, yes 3.18 seems logical as it corresponds 3.50 eurtry (eurusd 1.1) then 3.26-3.30 maybe the last stop
- I reckon USDTRY can pick up momentum to the upside faster than EURTRY. - We didn't even broke through the all times high EUR 3.4790 TRY, a lot of supply and demand in the way. - For a long term target in EURTRY market a 3.65 TRY is a possibility. - To join this train (adding longs) 3.3570 likely, in a very short term view. - That means a drop about 300 pips in EURTRY value from current quote.
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good point but I think whatever happens on TRY, will be fast.
gbp may be breaking eurgbp channel and eurusd is under 1.11 (0.9 usdeur)
thats why I would try to go long USDTRY first, or short TRYJPY
and stay away from EURTRY and GBPTRY..
your choice anyway, I may be wrong but short term I believe USD up, JPY up (as a reaction), not sure about eur or gbp
{quote} good point but I think whatever happens on TRY, will be fast. gbp may be breaking eurgbp channel and eurusd is under 1.11 (0.9 usdeur) thats why I would try to go long USDTRY first, or short TRYJPY and stay away from EURTRY and GBPTRY.. your choice anyway, I may be wrong but short term I believe USD up, JPY up (as a reaction), not sure about eur or gbp
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- Yes, even the central bank of Turkey yesterday cut the lending rate from %9 to %8.75
- That means in the current time, the central bank of Turkey want to see a higher value of dollar and euro against the Turkish lira confirming the uptrend.
