The chart pretty much explains itself. If the Turkish Central Bank can't interfere at the right time and place, we'll be seeing the Turkish Lira losing even more value and USD becoming equal to 8.70 Turkish Liras in December. Then we might see a retraction just like Bitcoin as the parabolic growth becomes unsustainable.
Note
There has been a downside movement within the last 2 days, but the trade is not invalid yet. Next week's price action is still important and it will show us if this is just a fake out.Note
From here on, the first target for Monday is 6.22Trade active
Okay. It took longer than I expected but the trade is still valid and as of this moment, we hit our Monday target 3 days late. A more detailed update is coming soon.Trade active
Ladies and gentlemen,Turkish Economics.
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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.