The first target is reached of 2.15 and we can expect a correction from those levels before another leg should bring the next target of 2.25 up. For now we should look for a consolidation between 2.10-15. The central bank has changed its strategy and is favoring a weaker Lira at least til the elections is my assumption but also Turkey is running out of steam before the elections in June some tensions will be dragging down stocks and the currency and as the global stock correction kicks fully in the whole process will speed up even to bigger losses especially on the stock side - will write a special on that the next days.
Friday, January 21, 2011
EURTRY update
The first target is reached of 2.15 and we can expect a correction from those levels before another leg should bring the next target of 2.25 up. For now we should look for a consolidation between 2.10-15. The central bank has changed its strategy and is favoring a weaker Lira at least til the elections is my assumption but also Turkey is running out of steam before the elections in June some tensions will be dragging down stocks and the currency and as the global stock correction kicks fully in the whole process will speed up even to bigger losses especially on the stock side - will write a special on that the next days.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment