Kumowizard

EURTRY - Time to cover some shorts

FX:EURTRY   Euro Fx/Turkish New Lira
81 1 0
I have been sitting in this short position since September. For me this was not leveraged, but a cash converted carry trade from an avg px             of 2,8650. It caused me some headaches when it popped up to 2,91, but as back then I had some equity shorts and the position was kind of converted from a previous long HUF             for the carry pickup I decided to sit in it. Finally it made me a god money, but now I think it has become a bit too much overextended and is time to hedge.

Daily: Ichimoku components turned bearish , but meantime Price reached the bottom of a well defined channel as well. What's more, it looks like today candle will be a hammer , at a key level, and this is a good signal for a possible pull back in the trend, and Slow Stoch is also oversold. The first important support is ard 2,82-2,83, there we'll see what's the next signal is going to be.

4 Hrs: Bearish Ichimoku , but DMI-ADX shows serious overextension of the trend. Pull back is possible for the following supports: 2,80 (Kijun Sen), 2,82 (Senkou B and possibly 100 WMA will come down there soon as well)
2use
2 years ago
Is it turkish lira that goes up to cause this?
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