Does Turkish Lira back to high volatility and the days of grace are over?

Turkish lira Analysis News

Losses for the Turkish lira deepened last week after Ankara’s deteriorating relationship with Washington – The Senate Foreign Relations Committee last week passed the Risch Bill, which aims to impose sanctions on Turkey for its purchase of Russian-made S-400 missile defenses and its latest offensive in Syria.
Turkish lira slide to its weakest level in daily trade since May and the volatility gauge was at its highest since late October
U.S. President Donald Trump has signed a defense bill, which imposes sanctions on Turkey over Ankara’s decision to acquire Russian S-400 missile systems
In response to that, Erdogan warned at the weekend that economic sanctions under consideration by the U.S. Senate, which may be implemented in response to Turkey’s purchase of Russian S-400 air defense missiles, could result in his government barring U.S. access to a key military base at Incirlik in the south of the country

Turkish lira Analysis

Turkish lira Technical analysis

The long-term trend forecast moved is still up as long as 5.30+_ will hold!
Break below 5.57 will send the Turkish to 5.31

close below 5.06 – will confirm for more down moves.
Break above 6.26 will send the Turkish again to higher levels – below these levels; you need to watch long-term trends mentions above In terms of behavior
If top will break up again,  Goal is standing on 7.89-8.72 –  look again on the charts I found that if this case is the same as 2001 to 5.06 price area is can be shown on the charts
Short-term trend forecast: as long as the Turkish lira will trade below 5.13 the target is located in 4.30+_ price area with an option to went down over  to 4.11
Daily closed above 6.26+_ will confirm that the correction is over!

Turkish lira chart

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