EUR/TRY Update: Free Fall


22 MAY 2018

The Lira is in free fall. Due to major risks (of collapse or (bizarre) intervention we strongly suggest avoiding this market is possible. Also, our comments will be limited in scope and frequency until things cool down.

Hold longs with trailing stops below 5.22 (near term) or 4.7130 (long-term).

  • Near term trend: positive
  • Long term trend: positive
  • Outlook: run-away trend
  • Strategy: trailing stops or avoid
  • Support: 5.22 / 4.7130 / 4.2320 / 4.15
  • Resistance: n/a
  • Outlook cancelled/neutralized below 5.22

Weekly chart EUR/TRY