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Volatility in the Turkish Lira is still subdued. The pair continues to trade inside a large triangle (see below). Until prices finally breakout higher or lower, we're going to see more of the same i.e. ever narrower ranges.
On the second picture below you can see the second reason why I'm betting on no change in September at 3.3015. The EUR/TRY spent all summer inside a range, bouncing between the highs at 3.42 and the lows near 3.17. The 50% Fib retracement of this range is at 3.30, which is al…
On the second picture below you can see the second reason why I'm betting on no change in September at 3.3015. The EUR/TRY spent all summer inside a range, bouncing between the highs at 3.42 and the lows near 3.17. The 50% Fib retracement of this range is at 3.30, which is al…