USD/TRY is at a critical juncture – Rabobank

Piotr Matys, EM FX Strategist at Rabobank, suggests that the USD/TRY is definitely at a critical juncture after spending the last few weeks trading within the ascending triangle. Key Quotes “Looking purely from the perspective of technical analysis one would argue that the odds are skewed i ...

USD/TRY should see a deeper pullback while below 6.2248 – Commerzbank

In opinion of Axel Rudolph, Senior Analyst at Commerzbank, the pair is expected to keep the bearish stance as long as it trades below 6.2248. Key Quotes “USD/TRY’s fall through the 6.0090/5.9822 late August and mid-September lows has practically taken it to the 55 day moving average a ...

TRY: Falling volatility in the medium term – Danske Bank

Analysts at Danske Bank, forecast USD/TRY at 6.40 in 3M, 6.90 in 6M and 7.50 in 12M. They warn about risks of a recession in Turkey.  Key Quotes:  “We expect 2018 GDP to grow 3.5% y/y, cutting our 2019 GDP growth projection to 1.8% y/y (previously 2.6% y/y) and to 2.1% from 2.8% i ...

Turkey: Headline inflation likely to move higher to 21.1% – TDS

Analysts at TD Securities note that the (Bloomberg) consensus is looking for Turkey’s headline inflation to move higher to 21.1% y/y from a prior 17.9%. Key Quotes “Pass-through from prior TRY weakness is the main driver of higher inflation, but precisely quantifying this given the siz ...

USD/TRY remains bearish below 6.3381 – Commerzbank

Senior Analyst at Commerzbank Axel Rudolph noted the pair remains bearish while below 6.3381. Key Quotes “USD/TRY’s fall through the 6.0090/5.9822 late August and mid-September lows nears the 55 day moving average at 5.8509 and also the four month support line at 5.7336 as well as th ...

USD/TRY Technical Analysis: 5.98 is the level to beat for the bears

The USD/TRY charted another lower high as it retreated from the Sept. 18 high of 6.4654, adding credence to the bearish pennant breakdown witnessed on Sept. 12. What the bears need now is a break below the Sept. 13 low of 5.98. If confirmed, it would establish a lower price low and open th ...

US Sec. of State Pompeo: Pastor Brunson could be released this month

The United States' Secretary of State, Michael Pompeo, crossed the wires in the last minutes announcing that they would be holding talks with Turkish officials regarding the release of Pastor Brunson and added that Brunson could be released this month, as reported by Reuters. The initia ...

USD/TRY seen sidelined below 6.5521 – Commerzbank

In opinion of Senior Analyst at Commerzbank Axel Rudolph, the pair is poised to extend the consolidation below the 6.5521 level. Key Quotes “USD/TRY is expected to consolidate further below the 6.5521 September 13 high with the 6.0090/5.9822 zone expected to be revisited while 6.5521 caps o ...

USD/TRY Technical Analysis: Pennant pattern could allow for further upside

After three consecutive daily pullbacks, the Turkish Lira is now regaining some interest and dragging USD/TRY to fresh 2-day lows around 6.25. The likelihood of a pennant formation in the daily chart could allow for extra gains in the near-to-medium term. In case the upside momentum gather ...

USD/TRY Technical Analysis: Pair could snap the three-day winning streak

The USD/TRY pair has dived out of the rising channel, as per the hourly chart, signaling the corrective rally from the Sept. 14 low of 6.02 has likely ended. The downside break of the rising channel puts focus back on the bearish reversal signaled by the pennant breakdown on Sept. 13. The pai ...

USD/TRY stays firm, eases from tops near 6.50

The Turkish Lira loses further ground and tests 6.50. Solid near term contention remains in the 6.00 neighbourhood. The pair almost fully recovered the post-CBRT dip. The Turkish currency remains on the defensive in the first half of the week and is now lifting USD/TRY to fresh tops in th ...