SUMMARY: Short, one would imagine after years of decline, the TRY would be bottoming out.
However, the Stoch RSI is showing it is "overbought" -- bearish signal.
Link to my Bitcoin analysis below:
However, the Stoch RSI is showing it is "overbought" -- bearish signal.
Link to my Bitcoin analysis below:
Note
Buy Bitcoin or Stellar Lumen - it fixes this.Note
TRY continues to fall on continue inflation rises and pressure on the Turkish banking system.zerohedge.com/markets/turkey-verge-currency-collapse-lira-implodes-crashes-4-minutes
Note
It is important to highlight, another reason TRY continues to fall is because the FATF (West) has added Turkey to its grey list. In effect, Turkey is being sanctioned.fatf-gafi.org/countries/s-t/turkey/documents/mutualevaluationofturkey.html
Note
The ccy is so oversold, would expect a bounce back up.Note
The upside is that it will be good for exportersNote
TRY is suffering from a double whammy. Risk Off macro environment is sending the DXY higher , money gets pulled out of emerging markets.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.