Lira takes a breather -equilibrium between $7 and $5.8 possible
Hello my dear USD/TRY traders, hope you're doing fine guys! :)
Since the last time we spoke, USD/TRY spiraled to 7 Dollars, which is seeing many traders jumping on the train. So obviously a correction here had to come and is very normal. We have retraced back to 5.68 with the wicks -and now we're gonna wait and see, what pattern we get at the top.
Fundamental news that had an effect were:
If you had some value from my analysis, make sure to like & follow me so you don't miss it next time, I'm doing Daily Analyses!
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
Since the last time we spoke, USD/TRY spiraled to 7 Dollars, which is seeing many traders jumping on the train. So obviously a correction here had to come and is very normal. We have retraced back to 5.68 with the wicks -and now we're gonna wait and see, what pattern we get at the top.
Fundamental news that had an effect were:
- Qatar pledging help to Turkey
- The central bank/government curbing the possbility of banks to lend money tot short sellers from 50% to 25%
- Turkey responding with tarrifs to US consumer goods
If you had some value from my analysis, make sure to like & follow me so you don't miss it next time, I'm doing Daily Analyses!
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
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.