USD/TRY Weekly uptrend opportunity based on 1.00 Lot Calculation:
- In 2021, the Turkish lira has lost around 80% against the dollar as the Turkish Central Bank cut its one-week repo rate four times since September (5% in total) to current 14%. On the other hand, the possibility of the faster Fed rate hikes is supportive for the US dollar.
- President Tayyip Erdogan insists on pursuing bizarre monetary policy (compared to modern monetary standards), despite inflation breaching 20% in November. In addition, he interferes not only in the conduct of monetary policy but also in the selection and firing of central bank’s governors (three central bank governors in the last two years).
USD/TRY, January 6, 2022
Current Price: 13.551
|
USD/TRY |
Weekly |
|
Trend Direction |
|
|
15.151 |
|
|
14.951 |
|
|
14.751 |
|
|
12.351 |
|
|
12.151 |
|
|
11.951 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
11,765 |
10,294 |
8,824 |
-8,824 |
-10,294 |
-11,765 |
|
Profit or loss Short in €** |
10,402 |
9,102 |
7,802 |
-7,802 |
-9,102 |
-10,402 |
|
Profit or loss Short in £** |
8,701 |
7,613 |
6,526 |
-6,526 |
-7,613 |
-8,701 |
|
Profit or loss Short in C$** |
15,019 |
13,141 |
11,264 |
-11,264 |
-13,141 |
-15,019 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:00 am (GMT) 6/1/2022
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details