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Will Turkish lira continue to fall against the dollar

Turkish lira (usd/try) technical analysis forecast 

Turkish lira falls more than 4.8 % against the dollar yesterday evening To 2.9850 its happen the same spot i mention all my posts

usdtry chart

The cracks between the PM and the president are getting wider would be seen as confirmation that Turkey is suddenly embroiled in a bitter, behind the scenes scandal, The implication is that the prime minister, Davutoglu, who has been engaging in crisis talks with Erdogan over the past weeks, may be about to resign but not before he creates a major rift within the AKP

2016 Turkey's economic growth is expected to slow to 3.5%. According to the World Bank, this figure is lower growth in double-digit percentages at the beginning of the party's rule. This year string of bombings and unrest in the Kurdish region also charge the price and in turn led to, among other things, a drop in tourism.

Aynes dairy company Gida, a renowned name in Turkey, filed for bankruptcy last January after she had failed to pay bonds of $ 18 million. Begendik supermarket chain also filed for bankruptcy recently, as she is also the oldest fashion retailer Atalar Giyim.
 Smaller companies, constituting the country's engine of growth for many years, they also find it difficult to cope with the situation after the government increased the minimum wage by 30%. According to the research institute TEPAV, of a number of employees fell in January 379 thousand while two-thirds of the decline comes from small and medium businesses.

Foreign investors are concerned, and banks are not willing to extend credit - they put pressure on companies that are in debt. So far, 240 companies sought temporary protection for creditors, a number close to the total number in all of the last year
According to the regulator in Turkey, in the first quarter of 2016, the rate of unpaid loans increased to 3.3% from 2.8%, compared with a year earlier. The biggest surge in bad debts comes from small and medium-sized businesses

GDP Growth Rate 0.7 %
Unemployment Rate 11.1 %
Inflation Rate 6.57 %
Interest Rate 7.5 %
Balance of Trade -4950 USD Million
Government Debt to GDP 32.9 %

turkish lira analysis
Turkish lira

Events the next month:
We have on Tuesday, May 24, 2016,   Interest Rate Decision  rate now is  7.5% let's see what will be if turkey will change it meanwhile there is no forecast for change in it

Turkish Lira technical analysis:

Break up 2.98-3.00 will lead the usdtry to 3.25 price level, while before that we have resistance at 2.89-2.91
Below that we have 2.86 zones would lead to 2.83 and to 2.79
Breakdown 2.78 level will send the pair to the 2.65-66
Conversely up crossing the 2.87 area confirming the continuation of the main trend
Turkish lira - USD/TRY
Major support:    2.78

usdtry price

turkish lira rate
Turkish currency

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

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