Turkish lira analysis
Turkish lira had become the world’s most unstable currency this year but is becoming more stable with volatility falling towards levels last seen prior to a political crisis with the United States in early August.
Turkish lira traded at levels of the volatility of below 30 percent on Monday, down from around 80 percent just a few weeks ago, The lower volatility comes amid an ebb in tensions with the United States and after the central bank raised interest rates by 625 basis points to 24 percent earlier this month.
Turkish Lira rises 6.04 lira per U.S. dollar and closed the day on 6.13 after the Wall Street Journal reports that Turkish authorities are indicating that an American pastor that’s been detained in Turkey on terrorism charges could be released next month.
The trial will take place on 12 october – The odds are now much more of a 50/50 probability event than has been the case ahead of previous hearings
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| USD TRY analysis |
Turkish lira analysis
Technical analysis update Long-term trend forecast moved is still up as long as 5.73 will hold! Break below 5.31 on weekly basis will send the Turkish to 4.18 weekly close below 4.18+- will confirm for more down moves. Break below 5.89 will send the Turkish to 5.31- below these levels; you need to watch long-term trends mentions above In terms of behavior. I think the Turkish lira is not expected to recover below 5.31 –next target if the top will break up again is standing on 8.36-8.72! Short-term trend forecast: as long as Turkish lira will trade below 6.54 the target is located in the 6.21-6.27 price area with an option to went down over 5.88 +_ price or even to 5.76 +_ price – daily closed above 6.38+_ will confirm that the correction is over
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| Turkish lira analysis |
The short story on Turkish lira – you can check here for more details :
Last 3 months we saw an audiovisual show of the Turkish Lira mention here not once that Turkish lira located in Dance of demons
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| Turkish lira chart |
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