USD /TRY Bullish Scenarios

6 May 2021

Based on the fundamental fact that Turkish economy is managed by wrong decisions, bad monetary policies and insufficient interest rate for Turkish lira, both scenarios look pretty possible to me. Not financial advice. ;)

7 May 2021

Not

Broke below my strong support at 8,28 and testing the local down. I think this is a good buying opportunity. Looks bullish unless it closes below 8,22. Even in that case 8,18 is my ultimate bounce-back level. Breaking below 8,18 can function as S/L level for many leveraged positions. So be careful about it...

9 May 2021

Not

Rising back to my 2nd scenario. Tomorrow is going to be important for confirmation. My latest USDT TRY chart is right on the spot. I expect USD/TRY to follow it in upcoming days...