TRY Short - The Turkish Economy is in Trouble
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:
Comment:
Buy Bitcoin or Stellar Lumen - it fixes this.
Comment:
TRY continues to fall on continue inflation rises and pressure on the Turkish banking system.
www.zerohedge.com/ma...es-crashes-4-minutes
www.zerohedge.com/ma...es-crashes-4-minutes
Comment:
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.
www.fatf-gafi.org/co...luationofturkey.html
www.fatf-gafi.org/co...luationofturkey.html
Comment:
The ccy is so oversold, would expect a bounce back up.
Comment:
The upside is that it will be good for exporters
Comment:
TRY is suffering from a double whammy.
Risk Off macro environment is sending the DXY higher , money gets pulled out of emerging markets.
Risk Off macro environment is sending the DXY higher , money gets pulled out of emerging markets.
