For now we have not been able to move beyond 14.00-14.25 and also not below 13.00. It is boxed in and it shows that there is balance within the market. The stochastic as well as MAD are negative right now, because we are not moving higher for the last one week. For that reason am in a range mode and hope to see direction short-term soon.
I have been told some days ago and again now, that there will be natural conversion to TRY due to conversion deadlines of foreign currencies to TRY. This will keep the cap in tact due to that.
A move beyond 14.25 or below 12.75-13.00 would indicate the direction. The LONG-TERM correction is still a likely 9.00-10.00, but requires to settle in that area for the pressure to be released.
I have been told some days ago and again now, that there will be natural conversion to TRY due to conversion deadlines of foreign currencies to TRY. This will keep the cap in tact due to that.
A move beyond 14.25 or below 12.75-13.00 would indicate the direction. The LONG-TERM correction is still a likely 9.00-10.00, but requires to settle in that area for the pressure to be released.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.