The technical rule set I've set up hasn't triggered a long call just yet but, if the USD can close above the trend line at ~5.715 it will.
With the CBRT announcing it's rate decision in two days this could be the start of a substantial move up given the heightened political tensions between Turkey and the EU over drilling in Cyprus and looming US sanctions for their S-400 purchase.
Downside risks would be a hawkish surprise from the CBRT on Thursday with a dovish surprise from the Fed following a week later.
With the CBRT announcing it's rate decision in two days this could be the start of a substantial move up given the heightened political tensions between Turkey and the EU over drilling in Cyprus and looming US sanctions for their S-400 purchase.
Downside risks would be a hawkish surprise from the CBRT on Thursday with a dovish surprise from the Fed following a week later.