Well, unexpected move down for many in USDTRY based on Erdogan's financial alternatives to protect savings of Turkish Lira depositers and other measures. Trimming or going long with tight stop at $ 13.00 for re-sell $ 15.25.
the monthly chart has not released enough pressure, whilst daily-chart has. GAN N support is around 13.00 area. resistance above 14.00, but noting we may correct the large decline a bit.
Strategy is careful long with a re-sell objective $ 15.00. Ultimately we will go 11.25 > 10.35. No change over all, but it has helped big time and the drop has shown that gravity eventually will assist in decline. The policy will suuport Turkish Lira if it can be financially managed by their government.
the monthly chart has not released enough pressure, whilst daily-chart has. GAN N support is around 13.00 area. resistance above 14.00, but noting we may correct the large decline a bit.
Strategy is careful long with a re-sell objective $ 15.00. Ultimately we will go 11.25 > 10.35. No change over all, but it has helped big time and the drop has shown that gravity eventually will assist in decline. The policy will suuport Turkish Lira if it can be financially managed by their government.