USD/TRY potential Long
This potential Long entry point in the chart is based on multiple technical and fundamental confluences, most of which i'm not going to give out
Note that FX markets and Turkish lira movement is based on fundamental information as any breakout of technical levels happens for fundamental reasons so I highly advise you to be unbiased and watch topic related news and periodical economic releases.
My stance (long/short/TP/SL/entry point) might change anytime if some new crucial info would come out.
Note that Turkey has highest USD denominated corporate debt burden among emerging market countries, with maturities sharply rising from 2019 and peaking in 2022. Meaning any near/medium term USD strength will have negative Lira effect as USD strength will complicate Turkish foreign debt repayment and will have negative pressure on Lira (USD/TRY strength)
Stance of TCMB on any potential Lira weakness will be interesting to see as well as FED tightening
Greek philosopher Plato once said "Opinion is the medium between knowledge and ignorance"
Don't ignore anything and do your own research thoroughly before you commit any capital.
You can make money pretty quick in FX markets but you can lose them faster than anyone
Note that FX markets and Turkish lira movement is based on fundamental information as any breakout of technical levels happens for fundamental reasons so I highly advise you to be unbiased and watch topic related news and periodical economic releases.
My stance (long/short/TP/SL/entry point) might change anytime if some new crucial info would come out.
Note that Turkey has highest USD denominated corporate debt burden among emerging market countries, with maturities sharply rising from 2019 and peaking in 2022. Meaning any near/medium term USD strength will have negative Lira effect as USD strength will complicate Turkish foreign debt repayment and will have negative pressure on Lira (USD/TRY strength)
Stance of TCMB on any potential Lira weakness will be interesting to see as well as FED tightening
Greek philosopher Plato once said "Opinion is the medium between knowledge and ignorance"
Don't ignore anything and do your own research thoroughly before you commit any capital.
You can make money pretty quick in FX markets but you can lose them faster than anyone
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