USDTRY -> SHORT October 11 and onwards - Weekly

When the volatility is over, those who had a real need bought-sold at 7,85.

* If the Armenia-Azerbaijan tension releases a bit, we may see further fall.
* DXY is weak.
* Although it is on October 22, TCMB proved that they could increase the interest rates so this may fuel the fall.
* Turkey announced that the gas find in the Black Sea was more than expected.
* Even the presidential elections in the TRNC may contribute to the positive outlook for TRY.

I see 7,78 and 7,70 further resistance points.

But the general trend is of course upwards, this is a temporary position. USDTRY long is always a good investment.