Lira crisis: continues tightening between 5.8 & 7 Dollars +News
Hello my dear Turkish Lira traders & everyone else who is interested in the ongoing Turkish Lira crisis.
As always, we look at the fundamental news first, and second at the technical analysis.
Important fundamentals:
-The Turkish government has ruled that exporters might convert 80% of their foreign exchange revenue into Lira within 180 days
-The central bank has already announced tightening policy coming next week, and thus, has set the bar pretty high (president Erdogan is, at least in front of the camera, against interest rate hikes)
-Potential war in Idlib/Syria: The Turkish society sees Syrian refugees already as a drain on the economy, connecting it to the demise of the Lira. Obviously another attack in Syria, which leeds to another inflush of refugees, could lead to further tentions. Germany's foreign minister is visiting Turkey right now in order for potential help in the attack scenario
Have fun watching! ;)
If you had some value from my analysis, make sure to like & follow me so you don't miss it next time, I'm doing Daily Crypto Analyses + occiasionnally Lira analyses! I wish you a good trading! :) No matter what you do, please set your stop loss.
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
As always, we look at the fundamental news first, and second at the technical analysis.
Important fundamentals:
-The Turkish government has ruled that exporters might convert 80% of their foreign exchange revenue into Lira within 180 days
-The central bank has already announced tightening policy coming next week, and thus, has set the bar pretty high (president Erdogan is, at least in front of the camera, against interest rate hikes)
-Potential war in Idlib/Syria: The Turkish society sees Syrian refugees already as a drain on the economy, connecting it to the demise of the Lira. Obviously another attack in Syria, which leeds to another inflush of refugees, could lead to further tentions. Germany's foreign minister is visiting Turkey right now in order for potential help in the attack scenario
Have fun watching! ;)
If you had some value from my analysis, make sure to like & follow me so you don't miss it next time, I'm doing Daily Crypto Analyses + occiasionnally Lira analyses! I wish you a good trading! :) No matter what you do, please set your stop loss.
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
