Regression analysis from break up candle.
New trend formed. Recent manipulations won't change the target. 15 years of economic deficit releases the energy. Although short term actions suppressed the trend, Turkey hasn't changed it's economy policy. The results will be seen on the chart soon. The reason for plunge in TRY isn't Bruson or any other reason but the wrong economic policies. Sanctions and problems with US only changes the speed of the surge. In the intermediate run i can see clearly that the USDTRY will remain over 7.5 and maybe 10ish soon. I hope Turkey can figure out a way from the hole they dig. The most likely the solution is lowering the wages and salaries. Reducing the expenditures and stop doing constructions with a pledged profit. At this point, borrowing money and using this money for manufacturing, tourism and agriculture can be a solution. However, the political environment has worsen recently. Foreign investors escaped and not planning to return. The country listed as 150th safe place to visit in spectator index. So far, the policy that they devoted their life was played a major role for recession. Now higher interest rates won't be able to stop it. Very high inflation levels are coming. Unfortunately, tax payer citizens will suffer very badly. I almost dropped tear during the economic fall. But the economy is no joke and doesn't care about feelings. I hope to analyze the chart in the reverse fashion in the future.
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