-EURTRY short term RSI (H4 chart) is in oversold zone
-The price is at support level
-Long on short term and close near 6.37
-The best place to entry short position is near 6.37
-The short position is good for short and long term too.
-In long term the price can go completely to February low near 5.9
The TRY seems to be strengthening against the Euro. I do not trade this pair, but as I have a personal interest in Turkey, I might buy some TRY (unleveraged) so upcoming visits won't become more expensive :-).
I see bearish butterfly on the weekly chart + bearish ab=cd on the daily chart in addition to these harmonic signals, rsi and macd gives bearish divergence on daily chart so it is a very good oppurtunity to short FX:EURTRY
My target is around 4,512-4.568.
Have a nice day.
At the moment , we are heavily net short the Euro mostly as advised by technical developments. In the monthly chart, you can notice price action are trending lower in relation to the upper BB. That is despite EURTRY being higher price wise. Stochastics are also over extended and a sell signal is in the process of being printed.
Secondly, in the daily...