Real Effective Exchange Rate Rises in October

The rise in the real effective exchange rate index in October indicates that the TL has gained in real terms, which could be perceived as slightly negative for exporting sectors. However, the XU100's 4.77% increase in the last 24 hours and the RSI14 approaching overbought territory at 74.3 suggest that momentum is strong in the short term but correction risk has increased. The MACD being above its signal line supports the positive trend. The news impact is limited and indirect, so it is not decisive for direction; the current technical outlook maintains a slight upward bias in the short term. Nevertheless, caution is warranted due to the overbought level.

The rise in the real effective exchange rate index in October indicates that the TL has appreciated in real terms and could create limited downward pressure on EURTRY. However, the technical picture remains upward: the price is above the SMA20 and SMA50, MACD is above the signal line, and RSI at 66 is strong but close to the overbought threshold. Therefore, while the news impact may be neutral-to-bearish in the short term, current momentum maintains an upward bias. Over a 1-3 day window, a sideways-choppy course and a limited news-driven pullback are more likely. RSI approaching 70 limits upside potential, so I keep the confidence level moderate.