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Back To SupportI'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 after several EU countries is banning Turkey. Also with Holland having election today, and soon France and eventually Germany. In that light, I have a fairly large SL on EURTRY. Don't necessarily do the same, unless you are comfortable with it.
Long
by chastic
Bullish Bat Euro/LiraSince October this pair has entered into an aggressive uptrend! Price is moving in a bat formation, heading towards our PRZ. As per natural behaviour, price may enter slight consolidation at the PRZ before continuing with the original trend; I will be looking for an entry asap once the C-D wave is complete. 1st and 2nd Take Profit levels at 38.2% and 61.8% respectively of the distance from A-D. Stop loss slightly behind the X coordinate. Bat Ratios: AB: 0.382-0.5 BC: 0.382-0.886 CD: 1.618-2.618 XD: 0.886
Long
by KyleMcQuade
USDTRY Setting Lower Lows, 61.8% Retracement CompleteCan we expect more decline from this point? I believe so and here is why: Since it reached all time high, USDTRY was unable to continue that trend and started making lower lows if you look at the 1h graph. First real decrease happened in the previous few days and 61.8% retrace was completed with the pair unable to continue higher. RSI bearish, MACD pointing down. In the short run, traders can benefit from short selling USDTRY. In the long run, however, I still stick to my idea of an inflationary dollar (ex. EUR/USD going to parity, even lower, USD is to be inflationary and we might see appreciation due to avoiding capital outflows, high bond prices and worryingly low bond yields). Good luck!
Short
by DzhuneytYusein
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