Has the Turkish lira reached the bottom and is about to embark on a long repair journey, or is it still too early?

Turkish lira analysis

In the past two weeks, good news has flowed into the Turkish lira
Turkish lira soared nearly 2.8 percent Monday to its strongest level since April after President Tayyip Erdoğan said he heard from U.S. President Donald Trump there would be no sanctions over Turkey’s purchase of Russian S-400 defense systems
Turkey’s exports hit a record $88.2 billion in the first half of 2019
Consumer confidence up 4.3 percent in June
Is it time for a recovery journey, or is it still too early, and this is only the end of the long journey to the all-time low of the Turkish lira?

Turkish lira technical analysis
Turkish lira analysis
To simplify the situation of the Turkish lira here is the story
Last 3 months we saw an audiovisual show of the Turkish Lira mention here not once that Turkish lira located  in 
Turkish lira headlines
Turkish lira news

Turkish lira Technical analysis

The long-term trend forecast moved is still up as long as 5.11+_ will hold! Break below 5.31 on weekly basis will send the Turkish to 5.11 a weekly close below 5.11+- will confirm for more down moves.

Break above 5.92 will send the Turkish again to higher levels – below these levels, you need to watch long-term trends mentions above In terms of behavior.

Turkish lira is expected to recover –next target if the top will break up again, is standing on 8.36-8.72- we are very close to this level, but when I look again on the charts,I found that if this case is the same as 2001, so move to 5.30 price area,  can be shown on the charts.

Short-term trend forecast: as long as the Turkish lira will trade below 5.63 the target is located in 5.45+ price area, with an option to went down over 5.31 +_ price, then to 5.11, daily closed above  5.86 -5.92+_ will confirm that the correction is over 

Turkish lira price forecast
Turkish lira forecast

This review does not include any document and/or file attached to it as advice or recommendation to buy/sell securities and/or other advice


Leave a comment