Double top and long candlestick. This will continue it's bearish trend
I think it will hit upper trend line until this november.
On the left we can see a big bull flag and the wedge i have drawn as well, both of them failed. Now we have a smaller bullish wedge in the making, could also fail but the RR is way to good to ignore this one. I am trying half here at the low and the second half when it break the wedge.
Countertrade news on USDTRY (forex) Warren Buffett: “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Sir John Templeton: ''Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum...
TURKISH LIRA TRY (TL) CONTINUES TO RISE AGAINST USD DOLLARS
This potential Long entry point in the chart is based on multiple technical and fundamental confluences, most of which i'm not going to give out Note that FX markets and Turkish lira movement is based on fundamental information as any breakout of technical levels happens for fundamental reasons so I highly advise you to be unbiased and watch topic related news...
Let me present: the Turkish Lira carry trade. Erdogan is a nice guy giving us free money if we invest in his dead currency. There is probably bullish divergence here so I would wait either for resistance to get hit, or a break down, maybe an inside bar, anything to get that juicy juicy trade. Against the euro the rate is even higher I did not check with every...
Countertrade bearish news on USDTRY (forex) Warren Buffett: “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Sir John Templeton: ''Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of...
As we posted last week, USD-TRY prise sharply crossed 5.6000 level, now trading around 5.7640 We think that before TCMB meeting price will be above our 5.7760 (R1) target, as we mentioned before 25 october is important to make longer term forecast. But it must be mentioned that USD is advancing versus major currencies from monday, so the price of Lira dropped...
As we posted last week, USD-TRY prise sharply crossed 5.6000 level, now trading around 5.7640 We think that before TCMB meeting price will be above our 5.7760 (R1) target, as we mentioned before 25 october is important to make longer term forecast. But it must be mentioned that USD is advancing versus major currencies from monday, so the price of Lira dropped...
Countertrade positive news for turkish lira (currency) Warren Buffett: “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Sir John Templeton: ''Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and...
As we posted last week, USD-TRY prise sharply crossed 5.6000 level, now trading around 5.7640 We think that before TCMB meeting price will be above our 5.7760 (R1) target, as we mentioned before 25 october is important to make longer term forecast. But it must be mentioned that USD is advancing versus major currencies from monday, so the price of Lira dropped...
=> Here we are tracking profit taking for shorts after an AB = CD leg in EURTRY => Nothing has changed on the macro side in Turkey and we have positive Euro flows starting to enter back into the picture as we start thinking about the unwinding of QE. => Our target at 7.34158 is the last daily R before we finished breaking down on this 'CD' leg whilst our stops...
USDTRY is in a downtrend for approximately 1.5-2 months and now touched the bottom line. I expect a rise in dollar price till the top red line in short period.