No real change in view.
Fundamentally weakness of TRY may set in for good reasons. The OIL price increase may put upward pressure on USDTRY and is dragged by other weakening currencies due to the ongoing crisis. However, this is the short-term view, and may pose an opportunity for medium-term players to go SHORT at higher levels.
in terms of the market conditions, we may see 14.75 > 15.50-16.00 and those are the SELL strategy levels I would be after for the medium term decline towards 10.50 - 9.00. this is not agreed upon by quite some connections, but as stated for the last one month, the OVERBOUGHT STATE is very high and this requires correction. That is why I see it as a reasonable technical view personally.
Fundamentally weakness of TRY may set in for good reasons. The OIL price increase may put upward pressure on USDTRY and is dragged by other weakening currencies due to the ongoing crisis. However, this is the short-term view, and may pose an opportunity for medium-term players to go SHORT at higher levels.
in terms of the market conditions, we may see 14.75 > 15.50-16.00 and those are the SELL strategy levels I would be after for the medium term decline towards 10.50 - 9.00. this is not agreed upon by quite some connections, but as stated for the last one month, the OVERBOUGHT STATE is very high and this requires correction. That is why I see it as a reasonable technical view personally.
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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.