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Samuel_Morton_Trader

Right, I'm calling it! 😁💥

Short
U.S. Dollar / Turkish Lira (EIGHTCAP:USDTRY)  
Samuel_Morton_Trader  
EIGHTCAP:USDTRY   U.S. Dollar / Turkish Lira
Fundamental Analysis Supply and Demand USDTRY TRYJPY TRY lira
3
2
fundamental supplyanddemand usdtry tryjpy try lira
Overview
I'm calling 2024 the end of Lira selling.

The Details
  • 2024 could see Turkish inflation peak🗻
  • The main driving force of the TRY selling has been unconventional monetary policy, erratic changes of the head of Turkey's central bank and finance ministers, and undisciplined high inflation
  • A rate hiking cycle has been in play since May 2023 - rates hiking from 8.50% to 45.00% - and conventional monetary policy seems to have finally arrived😅
  • Erodgan seems more committed to tackling inflation and having central bank stability

Things to consider
  • I am not suggesting that Turkey is on the verge of a boom, though I am not ruling this out; inflation could be peaking, so the Lira may finally see strength. This will create an all-time high on the TRY charts.
  • I suggest that the aggressive uptrend could be coming to an end, even if that means TRY pairs start ranging.
  • The carry trade makes this an irresistible opportunity for me. I have been long TRYJPY since June 2023, which has resulted in generous daily swap payments💰
Disclaimer

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