EUR/TRY breakout still to come... Price compression is unreal!
Update from my last video at the start of the week...
This week brought no resolution to this stall/congestion,
and we will have to wait and see what February brings.
The central bank of Turkey has an MPC meeting on the 18th Feb.
( www.tcmb.gov.tr/wps/...nouncements/Calendar )
so if nothing moves until then perhaps it will do so afterwards, depending on what they say.
For now it looks like the rate hikes will stop and even the new governor may not push
this with Erdogan in power. But there is speculation, and then there is trading on what is in front of us...
And all I can see is NEUTRAL because the breakout could go either way, truly it is like throwing a coin.
@Arroooo this is my response to your question, by the way :)
See you in my next video or article.
Have a good weekend
Francesco
This week brought no resolution to this stall/congestion,
and we will have to wait and see what February brings.
The central bank of Turkey has an MPC meeting on the 18th Feb.
( www.tcmb.gov.tr/wps/...nouncements/Calendar )
so if nothing moves until then perhaps it will do so afterwards, depending on what they say.
For now it looks like the rate hikes will stop and even the new governor may not push
this with Erdogan in power. But there is speculation, and then there is trading on what is in front of us...
And all I can see is NEUTRAL because the breakout could go either way, truly it is like throwing a coin.
@Arroooo this is my response to your question, by the way :)
See you in my next video or article.
Have a good weekend
Francesco
