I am careful to promote a BUY signal, since the monthly chart is very overdone, and any major event on Turkish Lira can set it back quickly to much lower levels.
The stochastic is almost positive, and the GANN resistance is 19.00 area and we have more room on upside medium-term. We may see above 18.00-18.50 before the change of direction sets in.
Strategy is SELL @ 18.25-19.00 for medium term objective 10.50-11.25.
I would rather use this as a wait and see opportunity and SELL higher up only and not to venture long right now. The short-term chart is slightly positive but will correct back as well. That is why some caution.
Overall I see medium- to long-term move down to 10.50-11.00. Slight adjust upwards since we have moved higher as well.
The stochastic is almost positive, and the GANN resistance is 19.00 area and we have more room on upside medium-term. We may see above 18.00-18.50 before the change of direction sets in.
Strategy is SELL @ 18.25-19.00 for medium term objective 10.50-11.25.
I would rather use this as a wait and see opportunity and SELL higher up only and not to venture long right now. The short-term chart is slightly positive but will correct back as well. That is why some caution.
Overall I see medium- to long-term move down to 10.50-11.00. Slight adjust upwards since we have moved higher as well.
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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.