Turkish lira analysis forecast
The Turkish lira traded almost 3 months between 3.85+_ to 3.73+_ boundary price after last year we saw in November new record and Turkish lira almost touch 4 against the dollar
Last post on the try was “Is the journey of the Turkish lira halted or is it just a pause“
Past Reviews covered the Turkish lira among last years for last trend was written here:
My assumption was that we are going ro see the Turkish lira going to 4.12,but I noticed to some obstacles whom may not give the Turkish the way up to those levels
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| turkish lira analysis |
I’m covering the try for many years , I mention not one that we are going to see the Turkish going over 4 to 4.11-4.20 ,today the USD/try reached for now a new low – check the charts – if I’m seeing the right picture so we are in process of creating new lows above 4, but the question if it will stop there ?
Looking on the charts showing us 2 times in history that it happens so I’m guessing this time it will be the same behavior, but the question is if there will be any innervation from turkey government on those numbers???
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
My assumption now is that we are witness the same move as 2002-2003 – that’s mean that usd try going to see again lower prices such as 3.34 and even lower
Technical analysis:
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
While stay above those levels could send the USD to try to 3.89-3.92 price levels
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 while break above3.91 will lead the usd/try to cope with 4.11+
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| usd try analysis |
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| eur try analysis |
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