Tue, 11 Feb 2014 07:53:34 GMT
USD/TRY 1H Chart: Falling Wedge
Recently, we have observed abnormally large fluctuations of USD/TRY. The pair skyrocketed to the highest level since at least 2007 of 2.3911 on January 27 and lost more than two thousand pips in the following day. In fact, some fundamentals were at a play, with the central bank of Turkey raising rates to stabilize the national currency. Having faced unusual