For some days, global markets have noted the Turkish lira’s plunge with more curiosity than concern, seemingly viewing it as Turkey’s problem and no one else’s. That seems to have changed. @seandcallow #Turkey #Lira #Erdogan $USDTRY
As a first step corrective wave expected for couple of months. Then we'll probably see the another attack to previous peak. Then I expect strong Lira against US - Dollar for few years.
Is the market going to follow this Elliott Waves Scenario?
EURTRY intervention risk high. Spiral looks pretty
This is what I will be keeping my eye on next week: FX:EURUSD,FX:GBPUSD,FX:USDCNH,FX:USDMXN,FX:USDTRY,FX:EURJPY,FX:EURCHF,FX:EURCAD,FX:GBPJPY,FX:GBPCAD,TVC:GOLD,TVC:SILVER,COMEX:HG1!,BITFINEX:BTCUSD There might be some opportunities, and I want to perfect my trading in FX, so I will ignore stocks unless I have time, my priority is really making my FX trading...
Erdogan is bad news for the TRY. There is a total loss of confidence in government and the spectre of hyperinflation is looming. If you can't stand the volatility of the pair, stand down. There is no real resolution in sight.
Just update to a previous posting for USDTRY Elliott Wave count.
After a massive fall because of a hike in interest rates in Turkey, EURTRY bulls managed to stage a weak recovery within a corrective channel. I think the channel will be broken to the downside soon. Good luck, Ali Sharifazadeh, CFTe
These custom support resistance indicator lines show decent places to enter or exit. The Blue indicator line serves as a Bullish Trend setter. If your instrument closes above the Blue line, we think about going Long. If your instrument closes below the Red line, we think about Shorting. For Stocks, I prefer to use the Yellow line as my Bearish Trend setter...
As a pure zinc producer in Turkey, Pasinex benefits from the devaluation of the Turkish lira since it accounts for approximately 80% of the cost in lira, but 100% of the sales are generated in US $. In addition, the price of zinc has steadily increased in recent years, so the earnings situation has also steadily improved. The 50% share of the Turkish joint venture...
Technicals nicely lining up . 4.70-4.90 selling pressure expected, with aim down towards 4.45, potentially down to 4.20.
I see some bullish divergence on 4h chart for macd and rsi + flag formation. Buy-in level: 4.35-4.46 Profit Targets: 4.57 4.72 4.92 Stop loss: 4.28 Have a nice weekend, Berk
Pros REER based TRY undervaluation: 47% National Bank stepped in to protect TRY Key to this position: limited market volatility and risk-on sentiment It is relatively expensive to short the TRY Cons Long-term fundamentals gloomy for Turkey