EUR/TRY has been little changed in the past few weeks. Notice the tight range during the most of this month. With a high at 3.2155 and a low at 3.1990, the total range has been just under 1.6 percent.



Let's take a longer view as well. On the weekly chart below we can see that the pair has been stuck in a large wedge. This pattern is a consolidation pattern plus it gets narrower with time. This means that the oscillations in the price will decrease going forward.



Since I'm betting on no major changes, this should be good for my forecast. Of course there's always a small chance for a large breakout but since we've giving forecasts here, the more likely scenario says we'll keep trading around here in March.
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