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EUR TRY

Turkish Lira Chronic Disease?As you can see in the previous price actions after the interference of the Turkish Lira it seems that the Currency has gotten a Chronic Disease now. The fast bounce back conclude that there is globally no trust within the Turkish Economic Politics. As the Minister of Treasury has already been replaced within 3 years and the independence of the Turkish Central Bank regarding President Recep Tayyip Erdogan's politics are being questioned. It seems that the market is craving for a change of governemnt, but as we know from recents words of the President an early election before 2023 is a wish that will not come through. Simple conclusion: Uptrend Cable will continue till 2023 at least as the Turkish Government is not likely to change their Economic politics.
Long
by Bifrin
1
EUR/TRY SKYROCKETS AFTER INTEREST RATE CUTSEUR/TRY skyrocketed today after Turkish President Recep Tayyip Erdogan defended the massive and continuous interest rate cuts amid double-digit inflation. He said this is part of an “economic war of independence,” rejecting calls from investors and analysts to adopt a different strategy. Turkey's short-term external debt stock rose to $124.4 billion, an increase of +8.8% since the end of 2020. The rise in USD/TRY and EUR/TRY rates will exacerbate Turkey's debt problems over the coming months. According to data released by the CBRT, nearly 43% of the country’s debt was denominated in US Dollars, and just over 25% was denominated in Euros. Inflation is near 20% in Turkey, and the Turkish central bank has cut interest rates by 400bps since September, with the latest one being 100bps, delivered last week. This, combined with investors' fear over the lack of independence of Turkey’s central bank, has resulted in a 40% drop in the lira this year and 20% since the start of last week alone. From a technical trading perspective and looking at our oscillator indicators, we notice that MACD is above zero, and the trigger line and RSI is strongly in the overbought zone. The price yesterday stopped at 2.00 Fibo level, and it would be interesting how it will react in the following days. According to the experts, the rate would continue conquering fresh highs, and the price could reach the next Fibo level 2.272 at a price around 15.50. But if it starts correction from this key point, it is possible to drop down to 1.618 Fibo level at price levels around 13.50, and if the price breakthrough the following story, it is possible to see the rate dropping all the way back around 11.50 levels. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands
by legacyFXofficial
1
Short Vision on EUR TRY for 23/11/2021 (700 pips to catch)Hello Dear Traders, You find below my analysis for EUR/TRY the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame EUR/TRY will fall to 13.4 as I am showing in my chart. Our Daily Goal is 13.27. Currently, EUR/TRY is moving towards the resistance level 13.95,where there is some liquidity from this value we are looking for short-term selling opportunities of EUR/TRY. Good Luck and enjoy your Bearish Market for today. Entry:@13.95 TP1: @13.69 TP2: @13.59 TP3: @13.24 SL: @14.3 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Short
by HugoAJROUCHE
Long Vision on EUR TRY for 18/11/2021 (400 pips to catchHello Dear Traders, You find below my analysis for EUR/TRY the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame EUR/TRY will fall to 12.4 as I am showing in my chart. Our Daily Goal is 12.27. Currently, EUR/TRY is moving towards the resistance level 12.77,where there is some liquidity from this value we are looking for short-term selling opportunities of EUR/TRY. Good Luck and enjoy your Bearish Market for today. Entry:@12.77 TP1: @12.69 TP2: @12.59 TP3: @12.44 SL: @12.9 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Short
by HugoAJROUCHE
Short Vision on EUR TRY for 17/11/2021Hello Dear Traders, You find below my analysis for EUR/TRY the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame EUR/TRY will fall to 11.84 as I am showing in my chart. Our Daily Goal is 11.81. Currently, EUR/TRY is moving towards the resistance level 11.9436,where there is some liquidity from this value we are looking for short-term selling opportunities of EUR/TRY. Good Luck and enjoy your Bearish Market for today. Entry:@11.945 TP1: @11.9 TP2: @11.86 TP3: @10.81 SL: @12.5 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
by HugoAJROUCHE
Long Vision on EUR TRY for 16/11/2021Hello Dear Traders, You find below my analysis for EUR/TRY the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame EUR/TRY will fall to 11.65 as I am showing in my chart. Our Daily Goal is 11.62. Currently, EUR/TRY is moving towards the resistance level 11.793,where there is some liquidity from this value we are looking for short-term selling opportunities of EUR/TRY. Good Luck and enjoy your Bearish Market for today. Entry:@11.7932 TP1: @11.75 TP2: @11.72 TP3: @11.65 SL: @10.5 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Short
by HugoAJROUCHE
The spike high on EUR/TRY is a classic reversal patternThere are a couple of technical analysis patterns that can help identify reversals – some are more important than others, but this morning we note this beauty: - The spike high on daily EUR/TRY chart The spike high on EUR/TRY, not only did it chart a spike high, but it reversed from a Fibonacci extension (1.618) AND we note the divergence of the daily RSI. All these factors imply that the market has topped. Spike highs are identified by the following criteria: • a High sharply above the days on either side, • a Close near the day's Low, and • a strong preceding rally. The more extreme each of these conditions are, the greater the likelihood of a reversal. NB RSI = Relative strength Index (click here if you would like to know more - www.investopedia.com). Fibonacci extensions: Click here if you would like to know more: - www.investopedia.com Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
by The_STA
1
Long Vision on EUR TRY for 25/10/2021Hello Dear Traders, You find below my analysis for EUR/TRY, the currency pair is in the buy zone. I expect the price to rise. According to my set of rules, in the M30 frame EUR/TRY will rise to 11.3 as I am showing in my chart. Our Daily Goal is 11.35. Currently,EUR/TRY is moving towards the support level of 11.15 where there is some liquidity, from this value we are looking for short-term buying opportunities of EUR/TRY. Good Luck and enjoy your Bullish Market for today. Entry:@11.15 TP1: @11.20 TP2: @11.25 TP3: @11.35 SL: @11.1 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Long
by HugoAJROUCHE
EURTRY bearish scenario:In this pair, technical analysis shows a technical figure Triangle. The Triangle has broken through the support line on 17/08/2021. EURTRY forming a bearish formation on a daily chart. If the price holds below this level we will have a possible bearish price movement with a forecast for the next 42 days with a target of 9.5735. If you decide to enter this position, experts say your stop-loss order should be placed at 10.1869. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Short
by legacyFXofficial
Long Vision on EUR TRY for 19/07/2021Hello Dear Traders, You find below my analysis for EUR/TRY, the currency pair is in the buy zone. I expect the price to rise. According to my set of rules, in the M30 frame EUR/TRY will rise to 10.11 as I am showing in my chart. Our Daily Goal is 10.125. Currently,EUR/TRY is moving towards the support level of 10.05 where there is some liquidity, from this value we are looking for short-term buying opportunities of EUR/TRY. Good Luck and enjoy your Bullish Market for today. Entry:@10.05 TP1: @10.075 TP2: @10.095 TP3: @10.115 SL: @10.015 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Long
by HugoAJROUCHE
EUR/TRY: Shake It Up, Şekerim! 💃💃💃It’s 2007, you are sitting at home watching the Eurovision Song Contest and this dude from Turkey, Kenan Doğulu, completely rocks the show with his song “Shake It Up, Şekerim (my sugar)”! Fast forward 14 years, a lot of shaking is happening in the Turkish Lira against which the Euro gained massively recently. As it stands right now, we expect the Euro to hit prices of 10₺ and above. Only condition for this scenario to realize is that we do not fall below 8.3344₺. However, with the current surge, we are more than well-positioned to attack the 10₺ mark. Happy trading!
Long
by MarketIntel