The analysis I make is just an idea not an investment advice. Please manage your risk while trading and please make your investment decisions only by yourself.
USD/TRY yesterday remains range-bound near $12.40 heading into Monday’s European session.
The Turkish lira (TRY) pair snapped a two-day downtrend the previous day while staying past a weekly ascending support line.
Given the MACD line teasing bullish cross, as the quote remains above the short-term rising support line, USD/TRY buyers are likely to aim for the...
We are observing a long-term trend of the depreciation of the Turkish currency. According to the Trend-Based Fib Extension, the 161.8% level is a good resistance and a target for the bulls. At the moment, USDTRY is pressing its ATH and consolidating under it.
I expect an impulse breakout and a continuation of the uptrend.
Best regards EXCAVO
Economy keeps crashing in the hands of "strong man" Erdogan, who has fired every Head of Turkish Central Bank who tried to stop him fulfill his own Turkish Dream of hyperinflation in which business is no longer possible as the cost of imports and commodities rises daily. Erdogan's genius policy in a world where growth and investment is stalling is to keep slashing...
Back on March 31 of this year I posted this charts below. Unfortunately I had tried to demonstrate the imamate collapse of the TRY
and posted the chart of TRYUSD instead of posting the correct ticker USDTRY. As such I marked long TRYUSD instead of Long USDTRY.
None the less the comments do not signal bullish for the TRY. it has lost 40% of its value in just days...
This is for entertainment purpose only.
If we consider Elliott Waves count on a Point and Figure Chart, one may see a possible wave count.
The count is imaginary which may reflect the current and future sentiment on the Turkish Lira Trend.
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (9.5217).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
"It's Okay to be Wrong, not Okay to Stay Wrong!"
"Better to be out of the market wishing you were in, rather than being in the market wishing you were out!"
Be real careful here as the market internals are weakening quickly. As I mentioned in the last video comments
"Be careful! This is not the same market it was a year ago. Buying the dip may not be a good idea."
USDTRY, in the previous idea we said will record 10.09 and now we got 10.02 ..
The price also it look for a new upward zone ...
But it is possible to make a retest.
Upwards above 9.49
the direction is up.
The targets are shown in the chart.
10 is a psychological resistance.
9.49 altında kapatmadığı sürece yükseliş olacağını düşünüyorum.
Hedefleri grafikte belirttiğim gibidir.
10 direnci psikolojik bir dirençtir. -YTD-
Analizlerim kişisel eğitimim içindir.
Hello
If breaking 490 down TRY will probably reach 430. After that, it can reverses up until 845 or more (900) if the bottom of the bleu corridor won't present kind of brake to that uptrend.
So, that what i think
Kep in mind, that i'm not exploiding a magic cristal ball, but i try to be more efficient and more rational in my trading way.
Thank you and good luck
Wanted to put a simple picture to see how much S&P 500 index raised in combination with USD/TRY currency effect added. Very simple investing and hedge oportumuty for Turkish people.
The direction of USDTRY it will try to stable above the resistance level to continue their upward trend .
Upward above 9.47
Target.: 9.54 & 9.61 & 9.70
Sl.:
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (9.52172).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
