Since late January, the Central Bank of the Republic of Turkey has produced consistent efforts to stabilize the currency. This has produced tangible results with a upward correction although persistent political tensions. Erdogan's referendum victory is likely to be the most market-friendly option. A "No" scenario may lead to early elections and a period of...
it is good to buy above yesterday high 3.9310 with stop loss below 3.8775 target at 4.1000 ( Swing trade )
I'm back with the EURTRY to do a add-to-position. If you have followed me on the EURTRY, it's an idea to consider an increase of position. Just a moment ago, disappointing quarterly jobless average (dec) figures came out of Turkey. With the EU going somewhat stronger, I trust this one over the next week to continue upwards. Be aware that EU is in a strange place...
The price is moving in an upward channel, it is currently at a level of resistance, where it opened with a gap on sunday night, and is half-way through the last leg of the AB=CD pattern within the channel.
EURTRY 4H Bearish Support:3.88000 - 3.848000 This is not investment advice
EURTRY 4H Shark Cypher Bearish Support: 3.89000 - 3.85000 This is not investment advice
This is, without doubt a long position for the long term. Diving into macro economy of TRY, it's not looking good, compared to EU. Currently I will wait and see if it's going to take a breather, before I jump in for the long run. Worth keeping an eye on.
As we see the pair formed a double top and closed below the neckline on the daily. The major trend line acts as a major support for the pair, breaking it means that the pair is going to the 3.70 levels. Make sure NOT to sell before the trend is broken and the break is confirmed. Good luck!
EURTRY 4H Long Resistance: 3,957000 - 3.97000 - 3,98000 This is not investment advice
Long position after consolidation during one week ore more.
Watch for 24 JAN and 27 JAN there can be huge jump after CB and Fitch decides
After this pump rally, also if EUR is gaining some with USD we can expect a nice short here. Rate risen too much and it need a pull back with the same power it went upwards. Set a proper SL and enter your trades. Good luck.
Daily time frame suggests an opportunity to capitalize on indecision and/or manipulation in the market. Sell limit set at 4.06358 with a 461 pip stop. Risk = $12.50 (1/4 of 1% of equity). Buy limit set at 4.01748 with a 461 pip stop. Risk = $12.50 (1/4 of 1% of equity). Both orders expire 10 minutes before London close. No take profit target will be set....
Despite USD weakens red support line worked. But volume is low now 3 hours later volume will be higher so probably it will chose one of the paths I draw
In this chart, you can see the correlation between BRENT OIL and USDRUB. When you open long position for long period for USDTRY you can open USDRUB short. USDRUB short will pay your swap cost when you get some profit from USDTRY.