Following our previous analysis, the Turkish Lira hit all our take profit points and began to consolidate on our resistance. I believe that traders look to exchange their Lira's for a more stable currency, hopefully one that that is performing better than the Lira before their investments become worthless.
We saw the faith of investor in the Lira help boost the Lira, making it the biggest recovery in the forex markets for the year 2021. We've since seen a shift in investor mentality as the bulls pull the USDTRY market on the upside.
I now anticipate the USDTRY to continue with it's bullish nature to meet our TP1, TP2, TP3 and eventually a new all time high with the USDTRY above 21 TRY per USD.
What are your thoughts on the Lira?
Disclaimer
NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
We saw the faith of investor in the Lira help boost the Lira, making it the biggest recovery in the forex markets for the year 2021. We've since seen a shift in investor mentality as the bulls pull the USDTRY market on the upside.
I now anticipate the USDTRY to continue with it's bullish nature to meet our TP1, TP2, TP3 and eventually a new all time high with the USDTRY above 21 TRY per USD.
What are your thoughts on the Lira?
Disclaimer
NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
