Hi everyone!
I think USD/TRY pair is ready to small growth. The arrangement of the next amounts is about 0.5 according to Fibonacci from the previous falling. Therefore I expect growth at least to level 7.7690. Thus the price will go to check of resistance.
Bought on 7.5707
TP = 7.7690
SL = 7.5036 (below the last minimum).
Information provided is only...
📌 Turkish Lira for the Yearly Close
The strong points of the rally which we went into more detail was an absolute momentum move; the flow was a force to be reckoned with and undermined all sides of the Turkish banking system, collapsing like a house of cards.
After 2019 the helplessness of Turkey's Erdogan was quite something. My dear readers, populists...
Midterm forecast:
While the price is above the support 7.2675, resumption of uptrend is expected.
We make sure when the resistance at 8.5750 breaks.
If the support at 7.2675 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The RSI support #1 at 57 is broken, so the probability of resumption of uptrend is...
Midterm forecast:
While the price is above the support 7.2675, resumption of uptrend is expected.
We make sure when the resistance at 8.5750 breaks.
If the support at 7.2675 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The RSI support #1 at 57 is broken, so the probability of resumption of uptrend is...
I posted a monthly chart for the Dollar a few months back that showed the Dollar will continue to lose value in the future. This will obviously not happen overnight, but I expect over the course of 2021 the dollar will continue to it downtrend. Looking at the Turkish Lira monthly chart, we see bullish divergence, and several indicators showing strength. If you...
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (7.8242).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (7.8242).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
Hi everyone! As I reported in the global forecast USD/TRY pair of the beginning globally the movement down. And after so sharp falling we are expected by correction up to the level about 7.97 that it corresponds to level 0.382 according to Fibonacci. Nothing hinders the movement to this level as all large trade volumes are above this level, long trend lines too....
As I have posted last week, Turkish Lira has
started its correction against USD. But not
7.8000 is my support level, which will be
hard to cross, if there will not be strong
fundamental advantage. We can expect
8.0000-7.8000 range for next several weeks.
I will update analysis if there will be some
crutial news.
Terms and short forms!
T - Trendlines...
My expect movement on TRY has started.
Compared to my last post, check the link below
Terms and short forms!
T - Trendlines (T1,T2... etc.)
S - Supprt levels (S1,S2... etc.)
R - Resistance levels (R1,R2... etc.)
TP - Take Profit
SL - Stop Loss
F - Fibo Levels (F23,F61... etc.)
Check out my next stream "Group from Moving averages based on Fibonacci...
EURO - TURKISH LIRA | I used 2 methods: The Purple color is a Parabolic Curve Step-Like Formation and The Blue one is Livermore's Speculative Chart.
$EURTRY will top @ 16 and will break the parabolic formation followed by a 80% correction. So 80% correction from 16 will bring $EURTRY to 3.
TRY can be stabilized before christmas, due to
sales and tourism turnover increase. 9.0283-
8.1985 is the range for next several months
if there will not be any fundamental changes
as international policy of Turkye is under
strong tension. A lot depends on fiscal policy
and fundamental changes in the economic
structure, than monetary policy.
Terms and short...
Price has reached our both targets T1 and T2
Still long on USD TRY, there is no any arguments why TRY can be stabilized
Check out the educational stream about pattern Sperandeo
www.tradingview.com
