I see that there is a pattern forming that indicates the beginning of the expected correction of the Turkish lira against the US dollar. Please note that this chart is on a monthly frame. It will take a medium period to be implemented. From my point of view, according to this analysis and data, there will be a small rise near the area of 32 to 34 Turkish liras per dollar, and from there a large three-wave correction will begin and extend for several years to come. Then we will update the market. Good luck. *In principle, I am not a supporter of any direction, but I am only giving my point of view, which may be right or wrong. If the analysis helps you, then this is for you. If you do not like this analysis, there is no problem. Just ignore it. My goal is to spread the benefit. I am not one of the founders of the currency.
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Indeed, the price has reached 32.4 liras and a correction has begun, but we need some time to confirm whether this correction will be deep and large and not something simple.. Let us give it some time and see.
There is no fundamental reason why such a pullback could occur, especially on monthly time scales as you predict. Turkish economy is riddled with chronic inflation due to terrible economic policies and the deterioration of the rule of law. Unless those things change, which is almost impossible under the Erdogan regime, there is little to no chance a sustained pullback could occur.
@KhaldHegazy, Just wow. Thanks for spending your precious time to look for this. I hope one day I can tell you how you helped many by just doing your best to change lives :)
MinimumWagerLvl1
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@KhaldHegazy, btw I feel like you are the one who founded the currency 😂 as you are %99.99 correct.
MinimumWagerLvl1
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What is wrong with Try currency lol. RSI is at the top, It's not correcting itself, very interesting times.
ABOMEZAR
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I like your view of the chart and your analysis. Great
Liquidatedx
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IMO, there is technically no way a major correction could happen to TLi. Judging by current timing and previous events: Erdogan party election end of March will rise this up by few % higher, this was a desperate attempt to slow this down. Probable 38 range within couple of months.
MinimumWagerLvl1
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OMG! I read this 100 time for the last 6 hours! It's actually happening. Finally a relief for turkish people and economy. Lately people got crazy about it's going up to 45 on April. But looks like common people are wrong and technical info is right. Thanks for this update means a lot. Maybe I say this a lot but.. You tought me a lot about the economy. Respects!
LeoTrder
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after 34, not now, need to touch 34 and then see what will happen