Usd try Technical update for 18.06.2015 :
we can see the pattern in the chart it show us that there triangle for upside move to 2.89 area or Downside to 2.57 area ,break down 2.71 area will accelerate the downside momentum
USD/TRY has recently touched a strong resistance level, the overall outlook remain bullish, and the downside should be limited by the potential lower boundary of the bullish channel at 2.65 reinforced by the monthly PP, However, if 2.62 fails to withstand the sellin pressure, the focus will shift to 2.57-8 area From the fundamental side : if a coalition cannot be formed within the next six weeks, fresh elections can be called unless a minority government is formed. There is a very real concern that no coalition will be formed in time and new elections will be required
Also we need to watch on :
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Tuesday June 23 2015
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Previous
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Forecast
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TCMB Interest Rate Decision
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7.5%
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7.5%
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