Turkish Lira Analysis
The Turkish lira continues to plummet
Turkey’s central bank on Monday revised its reserve ratio to free foreign currency of commercial banks in order to support the plunging currency, but it was not as successful as it can be seen
The Turkish lira weakened against the dollar by more than 2% to a level of 5.27 per dollar.
Last 3 months we saw an audiovisual show of the Turkish Lira, mention here not once that Turkish lira located in Dance of demons
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| Turkish Lira |
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| Turkish Lira analysis |
* we might see the same behavior as 2001 – if that the case so expect to see Turkish lira going to 5.46 against us dollar *
its look like this week we are going to see those number – I’m expecting to see the 5.46-5.62 price per USD dollar before correction
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| USD TRY ANALYSIS |
Technical analysis update
Long-term trend forecast moved is still up as long as 4.11 will hold! Break below 4.11 on weekly basis will send the Turkish to 3.89 weekly close below 3.780+- will confirm for more down moves.
short-term trend forecast Break below 4.71. Will send the Turkish to 4.40- below this levels, you need to watch long-term trends mentions above In terms of behavior. I think the Turkish lira is not expected to recover below 4.70 –next target will be in 5.46-5.62 !
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| USD TRY FORECAST |
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