USDTRY remains defying gravity.
No change of my medium-term view, and as you can see the channel resistance and support levels are the boundaries.
The fast weakening of the TRY no doubt will improve the export base, and therefore natural TY inflows, i.e. the buying of TRY.
Medium-term we will see 12.00- 10.35 to correct the rocket upward move. The timing, who knows, but gravity will set in.
Play it safe and add very careful shorts to USDTRY.
No change of my medium-term view, and as you can see the channel resistance and support levels are the boundaries.
The fast weakening of the TRY no doubt will improve the export base, and therefore natural TY inflows, i.e. the buying of TRY.
Medium-term we will see 12.00- 10.35 to correct the rocket upward move. The timing, who knows, but gravity will set in.
Play it safe and add very careful shorts to USDTRY.
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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.