EUR/TRY LOOKING BEARISH, THIS IS WHY
Updated
I am aware of the current geopolitical problems in the world and especially in Turkey.
Also the economy of Turkey has had a very hard time.
In 2023 there seem to be re-elections. Maybe if they get rid of Erdogan there can be a future.
Also 2023 is like the holy grail year for the Turks because they can "pump the oil out of the ground", because of a so called 100-year contract ending.
Anyhow, returning to the chart what I see is a double top and a breakout downward from a parabolic move.
I would be comfortable to buy some Turkish Lira at these levels, looking at those signs and the current risk level.
Also the economy of Turkey has had a very hard time.
In 2023 there seem to be re-elections. Maybe if they get rid of Erdogan there can be a future.
Also 2023 is like the holy grail year for the Turks because they can "pump the oil out of the ground", because of a so called 100-year contract ending.
Anyhow, returning to the chart what I see is a double top and a breakout downward from a parabolic move.
I would be comfortable to buy some Turkish Lira at these levels, looking at those signs and the current risk level.
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