It is very nice to receive so many comments on this pair. Some are kind of less polite, but that's no issue since all we are trying to do is to create technical analysis.
The pair has been climbing artificially (manipulated) for many months now. The RSI is way beyond the technical dreams on the monthly chart, and this suggest highly a correction back to 15.00 > 10.00 area. The May 14 elections will be the catalyst, and any major change in the current state, means USDTRY will GAP open to trade below 15.00. The rest market will adjust it slowly towards 11.00 eventhough ultimately we will see 9.50.
this all sounds incredible, but remember change of central bank policy and government, would mean higher interest rates to fight inflation etc and this will support the currency by then. Anyway, my viewpoint which for sure will attract the usual comments.
Welcome to write your comments and/or your own chart and forecast,.
The pair has been climbing artificially (manipulated) for many months now. The RSI is way beyond the technical dreams on the monthly chart, and this suggest highly a correction back to 15.00 > 10.00 area. The May 14 elections will be the catalyst, and any major change in the current state, means USDTRY will GAP open to trade below 15.00. The rest market will adjust it slowly towards 11.00 eventhough ultimately we will see 9.50.
this all sounds incredible, but remember change of central bank policy and government, would mean higher interest rates to fight inflation etc and this will support the currency by then. Anyway, my viewpoint which for sure will attract the usual comments.
Welcome to write your comments and/or your own chart and forecast,.