I think it is quite meaningful to analyze #USDTRY within the framework of market cycles rather than classical technical instruments..
From my point of view we are very close to the part where USDTRY will experience sharp increases in the market cycle.. If we approach the daily chart from a wide window, we can easily see that very similar movements are repeated in #USDTRY.. I expressed in the graph the movement I expected to be in the medium term..
In particular, I think that we are entering a period in which the dollar will grow stronger on a global scale and the results of this will be bad for the currencies of developing countries..
Disclaimer: I am not a financial advisor.. Please do your own due diligence when it comes to forex-trading.. Invest at your own risk..
I wish you all the best..
From my point of view we are very close to the part where USDTRY will experience sharp increases in the market cycle.. If we approach the daily chart from a wide window, we can easily see that very similar movements are repeated in #USDTRY.. I expressed in the graph the movement I expected to be in the medium term..
In particular, I think that we are entering a period in which the dollar will grow stronger on a global scale and the results of this will be bad for the currencies of developing countries..
Disclaimer: I am not a financial advisor.. Please do your own due diligence when it comes to forex-trading.. Invest at your own risk..
I wish you all the best..
