How To Make The Best Trade with TURKISH LIRA
The Turkish lira weakened a new record low against the usd on Wednesday
well … is it surprise – not for me, cause the charts tell us all the story
I mention this all my last post that we are going to see some big moves on the Turkish lira, and we got the moves, now I’m expecting to see more up moves to the points I mention
3.25-3.30 area this is the target for the Turkish lira as long the currency will stay above the last record /
Turkey’s president has declared a state of emergency for three months following Friday night’s failed army coup, nearly 50,000 soldiers, judges, academics, police officers and civil servants have been rounded up, detained, fired or suspended in the aftermath of Friday’s failed coup, leaving key government offices and universities staffed with terrified skeleton crews, sources told FoxNews.com. Those detained or sacked include 30 provincial governors, more than 100 military generals and admirals, 8,000 police officers, 6,000 soldiers, almost 8,000 Interior Ministry workers, key finance and domestic ministers, and intelligence officials
All the latest news who comes from turkey from last week are
Not herald good news, rather than encouraging for the future of the Turkish currency
On the contrary – they support a continued weakening of the currency against the dollar
Now let’s go tho the technical stuff from the graph
Here the story has been told to come
Turkish lira against the US dollar fell to an unprecedented low
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| TURKISH LIRA |
Technical analysis:
All that remains is to continue the movement, when the conditions for continued move towards the goals and new records are dependent on the ability of the Turkish lira remain above 2.83, while the long-term strong support lies at the level of 2.69
in addition, if you notice, I have already mentioned this in previous posts
There is an option for the same process took place in 2001 -2002
I predict a target of between 3:22 to 3:30 in the Turkish lira
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| USD TRY |
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