U.S. Dollar / Turkish Lira
Long
Updated

New Higher Highs For Lira

213
Analysis :
  • First time weekly close above the highest pinbar of 2018 devaluation
  • Correlated pairs (gbptry,eurtry) already closed above weekly top


Fundamentals :

  • Coronavirus :Jobless claims and inflation rates getting higher during pandemia.
  • low tourism income
  • Negative real interest in TR
  • TR Central Bank can not limited usdtry @ 6,86 and showed us they has negative deposit in real
  • Joe Biden's election winning almost accepted by everyone. Biden's foreign policys is not familiar for TR. That can cause sanctions applied for TR soon



Take Profit : Fibonacci extension and trend channel targets 8,20 - 8,40 area

Note : This strategy will not be valid if good news announces for Lira/TR Centeral Bank
Note
Cup & handle form also targets same 8,40 level

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