USDTRY – Is 8.0000 the Bulls’ Ultimate Target?

The U.S. dollar has been on a tear since the Financial crisis, rising against rivals both big and small. One currency that was hit especially hard is the Turkish lira. USDTRY was down to less than 1.1500 in 2008. Ten years later, in August 2018, it slightly breached 7.1500. Political and macroeconomic factors have certainly…

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USDTRY in a Corrective Pullback Within Uptrend

It has been 10 years since USDTRY bottomed at 1.1488 in January 2008 and started an uptrend that is still in progress. In late November 2017, the exchange rate climbed to as high as 3.9826, but then retreated to 3.7560 as of this writing. A lot of things happened during those 10 years. The world…

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USDTRY Ruled by Elliott Wave, Not Erdogan

Ten days ago, on July 15th-16th, there was an attempted coup in Turkey against the government. It failed, but left over 300 people dead and more than 2000 injured. The consequences of the crisis are still unfolding with nearly 6000 military and many more civil citizens being arrested and, according to western media, tortured in Turkish…

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