Turkish markets are experiencing serious difficulties, against the contradictions between the Erdogan and Trump administrations. The Turkish lira dropped 6.2% against the dollar and the XU100 opened with a big gap and -4.05% lower after the two countries ceased visa services for their citizens. The situation gives us a good opportunity for Short on the Turkish index XU100 with a stop at the level above the local peak - 107 000. Technically, the price has not filled the gaff and is very likely to continue its downward movement.
The US Embassy in Ankara has announced that recent events have forced them to reconsider the commitment of the Government of Turkey to the security of US facilities and staff
The Turkish embassy in Washington responded with a similar statement on Sunday and said it would "reassess the commitment of the United States government to the security of Turkish missions and personnel." According to him, the measures will apply to electronic visas, visas issued at the border and visas in passports.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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