Turkish lira analysis
After Turkish lira having already lost nearly 40 percent of its value this year against the dollar, we saw a big recover and Turkish lira traded below 6 again -yesterday Turkish lira rate finished the day on 5.31 price Turkish lira per 1 USD – The Turkish lira firmed as far as 5.31 against the USD, its best level since August
Are we going to get a new era on Turkish lira price movement?
Turkey’s economic problems are structural: For years, it juiced economic growth by building infrastructure, high inflation, and high interests that won’t go away just because sanctions do, only yesterday we saw 25% inflation economic data released
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Turkish lira analysis technical analysis
Long-term trend forecast moved is still up as long as 4.80+_ will hold! Break below 5.31 on weekly basis will send the Turkish to 4.81 weekly close below 4.81+- will confirm for more down moves. Break above 6.03 will send the Turkish again to higher levels – below these levels; you need to watch long-term trends mentions above In terms of behavior. I said that I think the Turkish lira is not expected to recover below 5.31 –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 to 4.80 price area is can be shown on the charts
Short-term trend forecast: as long as Turkish lira will trade below 6.03 the target is located in the 5.43+_ price area with an option to went down over 5.31 +_ price then to 5.16 and or even to 4.80 +_ price – daily closed above 6.03+_ will confirm that the correction is over
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