Welcome to this analysis on Euro / Turkish Lira. EUR / TRY has been in a massive macro uptrend since 2019, It paused around the highs of the previous uptrend cycle of 2018 at 7.850. Since the 7th of May, the market has gone sideways, it had a pullback to 7.35, re accumulated there, and bounce back to the previous high. Looking at the structure, it looks like...
My outlook on the Turkish lira, I think next year it will be stronger We can see the rejection after ATH at 7.3 meaning investors jumped in at those levels and price will probably come back to fill them more I'm interested in the area between 7.06 and 7.15
USD is - still bullish, - has consistent volume, buys are slightly increasing since the beginning of the year. - made the bullish flag in previous year. - hit the bottom of the uptrend channel that validates the target zone at the top of the channel. - Turkish economy is still in fragile-five. Correction to 6.70 (Fib Level 0.236) is possible. It is up to you to...
Note USDTRY's 92 percent negative correlation with Crude Oil on weekly. Crude oil needs to to trend up for USDTRY to fall. Long terms trends seem to be effected by Crude Oil, as is the case with Mexican Peso and Thai Bath with which heavily Lira correlates (90 and 88 percent). It also has 97 positive correlation with the Natural Gas (XNGUSD) on 4 hrs. Price...
As you see, current bullish move was already predictable from October 2019 using TD (DeMark) breakout projection no. 2. Now, price is facing very strong support - May central pivot range (CPR), May Camarilla S3 reversal level, yearly classic S2 pivot, yearly Fibonacci S3 pivot (did not plot the last 2 to have it more clear - but they are there) all at same point,...
TRY Has stabilized fundamentally and we have also technical support by pattern Sperandeo. First trendline is crossed, now target is T1 Trendline as first strong support.
In my previous analysis, I said that the dollar will rise above 7 TRY and we are on the target now. We will see higher prices, my next target is 7.60 levels for the long term.
TRY keep losing value everyday I expect a correction before a big move up
I am starting to trade exotic pairs now based on my strategy that I primarily use for GBP pairs that are volatility. Based on the trend, USDTRY is still going up that may break the 7.00 threshold. Follow the trend for the upside for USDTRY. TP: 6.955-7.00
TRY gaining again, but this is not a crypto coin. Have more place and sactions to growth. It needs some kick in ass for discussing About early election with newcomer pary like davutoglu and babacan. I see a clear fake out pump coming here. Maybe from a well organised secret Service from west countries.
Uptrend on USDTRY looks broke so i'm shorting since 6,77 so let's see what happens ;)
I'm now bearish for LIRA. It can be a good opp. for bringing average Price down. 5.65-5.78TL range will be a good entry
The struggle for democracy is being carried out and as long as Erdogan remains at the helm there is only one direction for TRY. Autocrats are typically sticky in nature and difficult to remove, the attack should first be aimed at the currency which will be the base of the capitulation. Attacking the 7.8 will break local bank and looks imminent as markets receive...
USDTRY could dip now into 5.45 area to complete small wave X (white label). Then the final move up with wave Y in larger degree X could emerge, which could tag former top of 7.0830. After that the large Y to unfold down to retest the bottom of the entire consolidation at 5.1300
Following our signal on USD TRY (Posted one week ago). Pattern sperandeo was not formed ideally, but signal was right, still the target is S1 support level 5.9880