Knowledge information

Has the Turkish Lira finished the correction from the last record level and is now facing new highs?

Turkish lira price forecast technical analysis update 


The Turkish lira is weakening again against the dollar again over 3.50, after last week it has already touched 3.47 and is back down again
Some economics facts from last period: Turkey’s 5.1% growth in the second quarter was stronger than expected, asset reporting.
there are some opinions about the slowdown in the economy is expected beginning next year, looking at growth to slow to 4.1% next year.
Turkey’s unemployment rate held steady at 10.2% in June, which covered the May-July period, unchanged from the levels of one month and one year earlier, data from the Turkish Statistics Institute, TurkStat, showed Friday.
The non-agricultural unemployment rate stood at 12.2% on average during the May-July period, the data showed, also unchanged from both a month and a year earlier.

The seasonally adjusted unemployment rate was 11.1% with a 0.2 percentage point year


USD TRY TECHNICAL ANALYSIS
USD TRY ANALYSIS



Technical analysis:

Now you must pay attention for this price level! – closed below this level will send the Turkish lira to cope with 3.40+_ price area, or even to lower price to the 3.34-3.36 price level
While stay above those levels could send the USD to try to 3.56-.359 price levels
The only move above 3.56-59 will confirm the end of these corrections
Long-term trend forecast moved is still up as long as 3.34 will hold!
Break below 3.34-6 on weekly basis will send the Turkish to 3.24-6 


Those are the scenario: 

Turkish lira going to test 3.51 area 
There are several scenarios:
The first one: going up till 3.56 _+ price area and from there going back down to test again 3.41-3 price area
The second scenario is break up 3.56 price area in daily basis closed and going all the way to 3.74 price area and even to new record above 4 to 4.20 price area
The last one is the inability to hold above 3.41 and a new negative price level of 3.26 if not less
My scenario as you probably know and I said more than once that the trend is still in place and we expect a new record for areas of 4.12 + _ as long as the 3.39-3.41 level will hold!!!

Turkish lira  technical analysis
Turkish lira 



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This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice
September 18, 2017

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