Right now you can open a short due to the manipulation that is going on right now in Turkey. In 1 week the TL almost gained 10% of its value.
The new central bank chief and minister of Finance have a new monetary policy compared to the previous one which we can see right now what happened within 1 week. Here to the fact that they really want the dollar down because of high inflation in Turkey.
Right now at the weekend as we speak all the banks and the central bank included are selling GOLD and all other foreign valuta to drop it as far much down to re-buy the dollars and gold for cheap. Next week we can surely see 7,30 at that point is a strong support. I recommend going short till 19th November because till then it will drop for sure. Here to the fact that there will be a gathering of the central bank and other politicians to raise the interest rates with 475-500 basic points.
After this, there will be an enormous long as we can see a V shape forming, cumulative economic and political problems.
The new central bank chief and minister of Finance have a new monetary policy compared to the previous one which we can see right now what happened within 1 week. Here to the fact that they really want the dollar down because of high inflation in Turkey.
Right now at the weekend as we speak all the banks and the central bank included are selling GOLD and all other foreign valuta to drop it as far much down to re-buy the dollars and gold for cheap. Next week we can surely see 7,30 at that point is a strong support. I recommend going short till 19th November because till then it will drop for sure. Here to the fact that there will be a gathering of the central bank and other politicians to raise the interest rates with 475-500 basic points.
After this, there will be an enormous long as we can see a V shape forming, cumulative economic and political problems.