Turkish lira Analysis News
When the blood flows through the streets, it is time to check the arteries and veins
The Turkish lira collapses to an all-time high – we have seen it over the years – until when?
Turkey’s lira sank to fresh record lows against the dollar today
Turkish lira hit an all-time low of 4.1520 against the U.S. currency, against the euro the Turkish currency weakened to a low of 5.1274, more than the others against GBP the Turkish currency weakened to a low of 5.9040 – taking losses for the year to about 8 percent, amid concern about measures to stimulate economic growth, which have widened the current account deficit to almost 6 percent of economic output and pushed inflation into double digits
I always get out of the point of view that at the end of the day the markets always strive for balance, which is true for any financial asset, which is why I like to work with the technical tools because the price and the parameters show a clear and clearer picture,
Not that I underestimate economic and fundamental data – I always treat and combine the two, but I think it’s easier to work with a graph than to read news headlines and headlines because the price graph shows the closest picture to reality and that’s the net price!
There is a trend up or down = see in the prices graph clearly the
The average price movement of an asset – each asset has its own volatility and should be treated individually for each individual
Last year and for many years im covering Turkish lira behavior: last year I posted is the journey of the Turkish lira halted or is it just a pause before setting of new records? My assumption was that we are going ro see the Turkish lira going to 4.12
And mention that there is more than good chance that we are going to see similar behavior who’s appeared in the past
“Technical analysis and similar pattern appears in 2002 – look the chart, if this is the same scenario, so we need to expect to see the Turkish lira going below 3.52 price, but it will happen only if Turkish lira won’t go up above 4.10, if this is the case , so we need to be ready for Trading a shuffle strip for a period of a long time, Which means that the programming of a trading band between the ranges of 3.4 to 4 for a long period, similar to the scenario in 2002-2008”
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| Turkish lira analysis |
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| Turkish lira technical analysis |
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| Turkish lira forecast |
Technical analysis review
Long-term trend forecast moved is still up as long as 3.67 will hold!
Break below 3.67 on weekly basis will send the Turkish to 3.49 and after to test 3.24 -upper limits for this round on my opinion is limited to 4.18-4.22
Pay attention to 3.73 price level! – closed below this level will send the Turkish lira to cope with 3.59-3.62+_ price area –
A weekly close above 3.8970+- will confirm for more down moves
Points to pay attention: 3.93-4+_ / 3.87 / 3.83+_ / 3.74+_/3.66
Short-term trend forecast: Break below 4.01 will send the Turkish to 3.93- below this levels you need to watch long term trends mentions above
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| Turkish lira forecast |
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